Sebi, on Monday, proposed to ban exclusive tips for trading and sought to make norms for brokers, researchers and analysts more stringent.

Seeking to improve sales practices followed by the trading members, Sebi proposed strict norms, including complete information on brokers to the clients they were servicing.

“Trading members owe their clients a duty to provide suitable investment advice in the best interest of the clients,” said the draft policy for improvement in sales practice by the members of stock exchanges on which Sebi has invited comments from the public by April 15.

The guidelines also seek to ban research analysts from buying or selling shares of the concerned company 30 days before and five days after the publication of the research. The onus of ensuring compliance by research analysts on buying or selling of shares of the concerned company will rest with the brokers. It added that brokers would not recommend to their clients “securities in a concentrated manner, which represents a subjective or arbitrary supply of information”.