Firms or individuals acting in a fiduciary role as investment advisers have to apply for registration under the new regulations by 21 October
Mumbai: Capital markets regulator Securities and Exchange Board of India (Sebi) has put up a list of investment advisers who have registered with it under the newly notified Sebi (Investment Advisers) Regulations, 2013.
Eleven names feature on the list put up last week, including advisers from New Delhi, Chennai, Hyderabad, Mumbai and Gurgaon. Both corporate entities and individuals have applied and been registered by the regulator.
The Sebi regulations were notified in January and became effective on 21 April. The regulations were put in place to ensure that the advisory function of investment companies is not compromised by the desire to earn production commissions or distribution income, which could lead to potential conflicts of interest.
They are expected to benefit investors who use such services by making advisers more conscientious and their services more aligned to the investor’s needs.
Companies or individuals acting in a fiduciary role as investment advisers have to apply for registration under the new regulations by 21 October 2013 if they want to continue in the trade.
The 11 individuals and corporate entities registered by Sebi are: IFMR Investment Adviser Services Pvt. Ltd-Chennai, Sensage Financial Services Pvt. Ltd-Hyderabad, Kavitha Menon-Mumbai, Prakash Chandra Praharaj-Navi Mumbai, Amit Kukreja-Gurgaon, Valuefy Solutions Pvt. Ltd-Mumbai, Pankaj Udaykumar Kulkarni-Pune, ICICI Securities Ltd-Mumbai, Shitiz Gupta-New Delhi, Jatin Thukral-New Delhi, and Manjeet Singh Vohra-New Delhi.
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