Home / Markets / Sebi issues modalities for investment adviser applications

Markets regulator Securities and Exchange Board of India (Sebi) on Monday issued modalities for investment adviser applications, asking all the new and existing applicants to approach BSE Administration and Supervision Ltd (BASL) for registration related activities.

In June 2021, Sebi, recognised BASL, a wholly-owned subsidiary of BSE to act as an Investment Adviser Administration and Supervisory Body (IAASB) for a period of three years.

As per the provisions of investment advisers rules, the administration and supervision of investment advisers (IAs) has been delegated to BASL.

All the new IA applicants, as well as the existing IAs have been asked to approach BASL for registration and post registration activities related to investment advisers, said Sebi in a statement.

Applicants can refer to framework issued by BASL regarding revised process for seeking membership from BASL and registration from Sebi.

Under the norms, BASL is required to supervise IAs, both onsite and offsite, grievance redressal of clients and IAs, take administrative action including issuing warnings and referring to Sebi for enforcement action.

It also needs to monitor activities of IAs by obtaining periodical reports, submit such reports to Sebi and maintain a database.

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout