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SEBI has issued a Master Circular consolidating earlier...
Regulatory consolidation for investment advisers: SEBI issues master circular consolidating guidance and prescribing compliance, reporting, fees and supervision.
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SEBI has issued a Master Circular consolidating earlier circulars governing Investment Advisers and rescinding prior directions to the extent they relate to IAs, while preserving actions taken under them. The circular prescribes client-level segregation of advisory and distribution activities, standardized agreement terms and MITC, permitted fee modes and revised fixed-fee cap, deposit requirements, relaxed qualification pathways with certification timelines, record-keeping, annual compliance audits and periodic reporting, disclosure and limits on use of AI tools, advertisement and conflict-of-interest rules, framework for administration and supervision via IAASB/RAASB (BSE recognised), optional centralised fee collection, PaRRVA verification regime and technology/cyber and grievance redressal prescriptions.
SEBI has issued a Master Circular consolidating earlier circulars governing Investment Advisers and rescinding prior directions to the extent they relate to IAs, while preserving actions taken under them. The circular prescribes client-level segregation of advisory and distribution activities, standardized agreement terms and MITC, permitted fee modes and revised fixed-fee cap, deposit requirements, relaxed qualification pathways with certification timelines, record-keeping, annual compliance audits and periodic reporting, disclosure and limits on use of AI tools, advertisement and conflict-of-interest rules, framework for administration and supervision via IAASB/RAASB (BSE recognised), optional centralised fee collection, PaRRVA verification regime and technology/cyber and grievance redressal prescriptions.
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