Description

SEBI order under Section 12(3) of SEBI Act, 1992 against Investment Adviser Krishna Kumar Jaiswal for non-availability during inspection and failure to maintain updated contact details.

Summary

SEBI has issued an order under Section 12(3) of the SEBI Act, 1992 read with Regulation 30A of SEBI (Intermediaries) Regulations, 2008 against Krishna Kumar Jaiswal, Proprietor of Trade View (Registration No. INA000009074, PAN: AJWPJ4144R). The action follows the Investment Adviser’s non-availability during a scheduled inspection and failure to maintain updated contact details as required under SEBI (Investment Advisers) Regulation, 2013.

Key Points

  • Krishna Kumar Jaiswal is a registered Investment Adviser with SEBI under Registration No. INA000009074
  • SEBI and BSE inspection team visited Bilaspur, Chhattisgarh on January 17, 2025 to conduct inspection on the theme “Advisory Fees collected by IAs from the Clients”
  • The Noticee was not found at the registered address during the inspection visit
  • Registered mobile number (90xxxx2958) was either switched off or not reachable throughout the day and subsequent follow-ups
  • Multiple emails sent to registered email address krishna.jaiswal88@gmail.com on January 20 and January 27, 2025 received no response
  • BSE confirmed on February 06, 2025 that the Noticee was not reachable, though Annual Compliance reporting for 2023-24 and periodic reporting for March 31, 2024 & September 30, 2024 were submitted
  • Resident at the registered address claimed to be relatives of the Noticee

Regulatory Changes

No new regulatory changes introduced. This order enforces existing requirements under:

  • Section 12(3) of SEBI Act, 1992
  • Regulation 30A of SEBI (Intermediaries) Regulations, 2008
  • Regulation 13(b) of SEBI (Investment Advisers) Regulation, 2013

Compliance Requirements

  • Investment Advisers must maintain accurate and updated contact details with SEBI at all times
  • As per Regulation 13(b) of SEBI (Investment Advisers) Regulation, 2013, Investment Advisers must forthwith inform SEBI in writing if any information previously submitted is found to be false or misleading, or if there is any material change in information already submitted
  • Investment Advisers must be available for SEBI/exchange inspections at their registered address
  • Investment Advisers must respond to official communications from SEBI and exchanges

Important Dates

  • January 17, 2025: Inspection team visit to Bilaspur, Chhattisgarh - Noticee not available
  • January 20, 2025: Email sent to registered email address - no response
  • January 27, 2025: Reminder email sent - no response
  • January 31, 2025: BSE asked to verify reachability
  • February 06, 2025: BSE confirmed Noticee not reachable
  • December 09, 2025: Order issued (Reference: RD/WRO/DIV-3/31824/2025-26)

Impact Assessment

Market Impact: Low - This action affects only one registered Investment Adviser and does not impact broader market operations, trading activities, or investor transactions.

Regulatory Impact: High for the specific intermediary - Demonstrates SEBI’s strict enforcement of compliance requirements for registered intermediaries, particularly regarding maintaining updated contact information and availability for inspections.

Investor Impact: Minimal direct impact, though clients of this specific Investment Adviser may be affected if regulatory action leads to suspension or cancellation of registration.

Compliance Signal: Reinforces the importance of maintaining accurate records and being available for regulatory inspections for all SEBI-registered intermediaries.

Impact Justification

High severity regulatory action against a specific Investment Adviser for non-compliance, but low market impact as it affects only one intermediary and does not impact broader market operations or investors directly.