Regulatory disclosures

Placeholder - finalise with counsel before public launch. This page sets out the regulatory framing that applies to Crux Research’s published research.

Not an investment adviser

Crux Research (the (legal entity TBD)) is not registered with the Securities and Exchange Board of India (SEBI) as an Investment Adviser under the SEBI (Investment Advisers) Regulations, 2013, and is not registered as a Research Analyst under the SEBI (Research Analysts) Regulations, 2014.

The content published by Crux Research is general market commentary and educational research only. It is not personal investment advice, a recommendation to buy or sell any security, or a solicitation of any kind.

Not investment advice

Nothing published by Crux Research should be construed as an offer, solicitation, or recommendation to buy, sell, hold, or deal in any security, derivative, or financial instrument. All decisions to act on any of our published research rest entirely with the reader. Past performance, calibration metrics, and back-tested results are not indicative of future results.

No personal advice

Our published research does not take into account any individual’s investment objectives, risk tolerance, financial situation, or specific portfolio context. Before acting on any market view, readers should consult a SEBI-registered investment adviser of their choice.

Risk warning

Trading and investing in Indian equity, derivative, and options markets carries substantial risk of loss and is not suitable for every investor. Losses can exceed the initial capital deployed, particularly in leveraged products. Readers are responsible for assessing their own suitability and risk capacity.

Conflicts of interest

The Crux Research team may, from time to time, hold positions in instruments referenced in published research. Where a material conflict exists, it will be disclosed in the brief section that discusses that instrument.

Crux Research does not accept payment in cash or kind from any listed company, broker, exchange, or product issuer in exchange for coverage. Subscription revenue is the sole revenue source.

Outcome-log integrity

Calibration metrics displayed on the Track record page and inside every brief’s Yesterday Audit section are computed from an append-only outcome log. Predictions whose outcomes are drawn from retrospective replay of historical bundles are tagged as such, and the rendered disclosure makes the share of retrospective vs live outcomes explicit.

Jurisdiction

This service is offered from India, primarily targeted at Indian-resident readers and Indian-market securities and derivatives. International readers should ensure their own local regulations permit consumption of paid market research of this nature.

Updates to this page

The content of this page may be updated as regulations evolve or as the scope of our published research changes. Material changes will be noted in a brief and emailed to active subscribers.