Description

Comprehensive FAQ guide on SEBI Investment Advisers Regulations covering registration, fees, deposits, and compliance requirements.

Summary

BSE has issued comprehensive FAQs on SEBI Investment Advisers Regulations, 2013, covering registration procedures, fee structures, deposit requirements, and compliance obligations. The document serves as a guide for market participants on regulatory provisions for Investment Advisers.

Key Points

  • Application for IA registration must be submitted through Investment Adviser Administration and Supervisory Body (IAASB)
  • BSE Limited has been granted recognition as IAASB for five years from July 25, 2024
  • Registration certificates remain valid until suspended or cancelled, subject to periodic fee payments
  • Deposit requirements range from ₹1 lakh to ₹10 lakhs based on client numbers
  • Principal Officers and PAIAs don’t need separate registration certificates

Regulatory Changes

  • BSE Limited recognized as IAASB effective July 25, 2024
  • Updated fee structure and deposit requirements based on client base
  • Streamlined application process through online portal at https://membershipraia.bseindia.com/

Compliance Requirements

  • Registration Fees: Individuals/firms pay ₹2,000 application fee, ₹3,000 registration fee; Body corporates pay ₹10,000 application fee, ₹15,000 registration fee
  • Deposit Requirements:
    • Up to 150 clients: ₹1 lakh
    • 151-300 clients: ₹2 lakh
    • 301-1,000 clients: ₹5 lakh
    • 1,001+ clients: ₹10 lakh
  • Annual Review: Deposit amounts must be revised by April 30 based on previous year’s maximum client count
  • Qualification Requirements: Principal Officers and PAIAs must meet specified certification requirements

Important Dates

  • April 30: Annual deadline for deposit amount revision based on previous financial year’s client numbers
  • IAASB recognition period: July 25, 2024 to July 24, 2029

Impact Assessment

This FAQ document provides clarity on Investment Adviser regulations, helping ensure proper compliance across the industry. The centralized application process through BSE’s IAASB portal should streamline registration procedures. The tiered deposit structure based on client numbers provides proportionate regulatory burden while maintaining investor protection.

Impact Justification

Educational FAQ document providing guidance on Investment Adviser regulations - important for compliance but not market-moving