Client level segregation mandated for investment advisers; fees, disclosures, AI use, audit and supervision framework clarified. SEBI consolidates guidance for Investment Advisers: enforce client-level segregation of advisory and distribution activities, require standardized IA-client agreements including MITC, mandate disclosure of AI use, accept fees only through traceable banking channels or centralized mechanism, impose deposit and audit requirements, prescribe qualification and registration transition rules, establish administration and supervision framework via recognised stock exchange as IAASB/RAASB, set advertising, outsourcing and conflict of interest norms, and require periodic reporting and complaint disclosure.
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Client level segregation mandated for investment advisers; fees, disclosures, AI use, audit and supervision framework clarified.
SEBI consolidates guidance for Investment Advisers: enforce client-level segregation of advisory and distribution activities, require standardized IA-client agreements including MITC, mandate disclosure of AI use, accept fees only through traceable banking channels or centralized mechanism, impose deposit and audit requirements, prescribe qualification and registration transition rules, establish administration and supervision framework via recognised stock exchange as IAASB/RAASB, set advertising, outsourcing and conflict of interest norms, and require periodic reporting and complaint disclosure.
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