SEBI releases application guidelines for investment advisers

According to the rules governing investment advisers, BASL has been given responsibility for managing and monitoring investment advisers (IAs).

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Securities and Exchange Board of India (SEBI), the market regulator, released guidelines for investment adviser applications on Monday. All new and existing applicants are urged to contact BASL for registration-related tasks.

For a three-year period beginning in June 2021, Sebi recognised BASL, a fully owned subsidiary of BSE, to serve as an Investment Adviser Administration and Supervisory Body (IAASB).

According to the rules governing investment advisers, BASL has been given authority to manage and oversee investment advisers (IAs).

According to a statement from Sebi, for registration and post-registration operations relating to investment advisers, all new IA applicants and current IAs need to contact BASL.

In order to learn more about the updated procedure for applying for membership in BASL and registration with Sebi, applicants can consult the BASL framework.

According to the regulations, BASL must oversee IAs both on-site and off-site, resolve client and IA grievances, and take administrative action, such as issuing warnings and submitting cases to Sebi for enforcement action.

Additionally, it must keep track of IAs’ operations by acquiring periodic reports, submitting those information to Sebi, and maintaining a database.