Securities and Exchange Board of India (Investment Advisers) (Second Amendment) Regulations, 2025

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.... India (Investment Advisers) Regulations, 2013, namely: - 1. These Regulations may be called the Securities and Exchange Board of India (Investment Advisers) (Second Amendment) Regulations, 2025. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 - I. In Regulation 4, in clause (g), the words "or sub-broker" and "and Sub-Broker" shall be omitted. II. In Regulation 7, i) in sub-regulation (1), a. after the words "under these regulations" and before the words and symbol ", shall have the following", the words "or persons associated with investment advice" shall be inserted; ....

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....n certificate, as the case may be, to ensure continuity in compliance with certification requirements." iii) In Regulation 13, a. clause (e) shall be substituted with the following, namely - " (e) individuals registered as investment advisers whose number of clients exceed three hundred at any point of time or the fee collected during the financial year exceeds three crore rupees, whichever is earlier shall - (i) immediately intimate the Administration and Supervisory Body and initiate the process of transition from individual to non-individual investment adviser; and (ii) apply for grant of in-principle approval for registration as non-individual investment adviser within 3 months ....

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....x number(s)," shall be omitted; b) in clause (c), the words and symbols "and e-mail of the contact persons(s) and principal officer" shall be substituted with ", e-mail of the contact person, compliance officer and principal officer." iii) in item 2, a) in sub-item I, a. in clause 4, the words "address proof" shall be substituted with "details of address"; b. clause 6 and clause 7 shall be omitted. b) in sub-item II, a. in clause (1), the words "address proof" shall be substituted with "details of address"; b. in clause (3), the words and symbols ", qualification and experience requirements under regulation 7" shall be substituted with "and qualification under regulatio....

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....Securities and Exchange Board of India" and before the words "immediately any change", the words "and Investment Adviser Administration and Supervisory Body" shall be inserted. AMIT PRADHAN, EXECUTIVE DIRECTOR [ADVT.-III/4/Exty./503/2025-26] Footnotes: 1. The Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 were published in the Gazette of India on January 21, 2013 vide No. SEBI/LAD-NRO/GN/2012-13/31/1778. 2. The Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 were subsequently amended on, - a. 23rd May, 2014 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2014 vide No. LAD-NRO/GN/2014-15/03/1089; b. 8th Dec....