Register to work as an investment adviser: SEBI

The objective is to eliminate unauthorised entities giving advice to investors

May 30, 2013 9:46 IST | India Infoline News Service
Market regulator SEBI (Securities and Exchange Board of India) said anyone seeking to act as an investment adviser would need to first obtain a certificate of registration for the same.

The objective is to eliminate unauthorised entities giving advice to investors.
The SEBI (Investment Advisers) Regulations, 2013 (IA Regulations) were notified on January 21, 2013 and have come into effect from April 21, 2013.

According to IA Regulations, no person should act as an investment adviser or hold itself out as an investment adviser unless he has obtained a certificate of registration from the SEBI Board or he is specifically exempt, the regulator said in a press release on Wednesday.

The application for registration as an investment adviser under IA Regulations should be filed with the concerned regional office (RO) / local office (LO) of the Board under the jurisdiction of which the registered address of the applicant falls, it added.

At present, SEBI has its head office in Mumbai and four regional offices i.e. Eastern Regional Office at Kolkata, Northern Regional Office at Delhi, Southern Regional Office at Chennai and Western Regional Office-II at Ahmedabad.
SEBI has opened nine local offices at Bengaluru, Bhubaneshwar, Guwahati, Hyderabad, Indore, Jaipur, Kochi, Lucknow and Patna.

Accordingly, the persons seeking registration under IA Regulations may file their registration application with the concerned RO/LO of the Board for grant of registration.

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