Delegation of investment adviser supervision to stock exchange subsidiaries enables centralized administration and reporting to securities regulator. SEBI permits recognition of a wholly owned stock exchange subsidiary to administer and supervise registered Investment Advisers under Regulation 14. Parent exchanges must satisfy eligibility thresholds and either form or designate a subsidiary, embed supervisory functions in its constitutional documents, and establish systems for grievance redressal, administrative action, data maintenance, information sharing, infrastructure, and manpower. The subsidiary will conduct on site and off site supervision, handle grievances, take administrative measures, monitor IAs through periodic reports, maintain an IA database, and submit reports to SEBI. Eligible exchanges must submit detailed proposals to SEBI within the circular's stipulated timeframe.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Delegation of investment adviser supervision to stock exchange subsidiaries enables centralized administration and reporting to securities regulator.
SEBI permits recognition of a wholly owned stock exchange subsidiary to administer and supervise registered Investment Advisers under Regulation 14. Parent exchanges must satisfy eligibility thresholds and either form or designate a subsidiary, embed supervisory functions in its constitutional documents, and establish systems for grievance redressal, administrative action, data maintenance, information sharing, infrastructure, and manpower. The subsidiary will conduct on site and off site supervision, handle grievances, take administrative measures, monitor IAs through periodic reports, maintain an IA database, and submit reports to SEBI. Eligible exchanges must submit detailed proposals to SEBI within the circular's stipulated timeframe.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
