SEBI publishes new guidelines for investment advisor applications

27 Sep 2022 , 07:07 AM

The market regulator SEBI published guidelines on Monday on applications for investment advisers, requesting that all new and current applicants contact BSE Administration and Supervision Ltd (BASL) for registration-related tasks.

For a three-year period beginning in June 2021, Sebi recognized BASL, a fully owned subsidiary of BSE, to serve as an Investment Adviser Administration and Supervisory Body (IAASB).

According to the rules pertaining to investment advisers, BASL has been given authority to manage and oversee Investment Advisers (IAs).

SEBI issued a statement stating that all new IA applicants as well as current IAs have been requested to contact BASL for registration and post-registration activities connected to Investment Advisers.

Additionally, candidates can consult the BASL framework for the updated procedure for applying for membership with BASL and registration with Sebi.

According to the regulations, BASL must oversee IAs both on- and off-site, resolve client and IA complaints, and take administrative measures such as warnings and referrals to Sebi for enforcement action.

Additionally, it must keep a database and monitor IA actions by receiving periodic reports and submitting those findings to SEBI.

For feedback and suggestions, write to us at [e-mail]