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of <h1>SEBI Sets New Rules for Stock Exchange Subsidiaries to Supervise Investment Advisers, Proposals Due in 30 Days.</h1> The Securities and Exchange Board of India (SEBI) issued a circular on August 6, 2020, concerning the administration and supervision of Investment Advisers (IAs). SEBI has decided to recognize a wholly-owned subsidiary of stock exchanges to oversee registered IAs. The eligibility for recognition includes a minimum of 15 years of existence, a net worth of at least INR 200 crores, nationwide terminals, and an investor grievance redressal mechanism. The subsidiary will be responsible for supervising IAs, handling grievances, taking administrative actions, monitoring IA activities, and maintaining a database. Stock exchanges meeting these criteria must submit proposals to SEBI within 30 days.
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