Amended Investment Advisory Rules Relax Definition, Introduce AI Usage Guidelines.

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....The Securities and Exchange Board of India issued the Investment Advisers (Second Amendment) Regulations, 2024, amending the Investment Advisers Regulations, 2013. Key changes include: excluding investment products from the definition of investment advice; introducing the concept of part-time investment advisers; revising qualification, certification, and deposit requirements; mandating a functional website; provisions related to use of AI tools; enhanced disclosure obligations; and compliance monitoring through independent professionals or compliance officers.....