Description

SEBI order against Vishal Lath concerning unregistered investment advisory services and portfolio manager services provided by Maxx Innovation Growth and Maxx Innovation.

Summary

SEBI has issued General Remittance Order RC-8877 against Vishal Lath in the matter of unregistered investment advisory services and portfolio manager services provided by entities Maxx Innovation Growth and Maxx Innovation. This order addresses violations of SEBI regulations regarding registration requirements for investment advisors and portfolio managers.

Key Points

  • Recovery Certificate issued: RC-8877
  • Noticee: Vishal Lath
  • Matter concerns: Unregistered Investment Advisory Services and Portfolio Manager Services
  • Entities involved: Maxx Innovation Growth and Maxx Innovation
  • Order type: General Remittance Order (recovery proceedings)

Regulatory Changes

No new regulatory changes introduced. This order enforces existing SEBI regulations requiring proper registration for investment advisory and portfolio management activities.

Compliance Requirements

  • Investment advisory services require registration under SEBI (Investment Advisers) Regulations, 2013
  • Portfolio management services require registration under SEBI (Portfolio Managers) Regulations, 2020
  • Entities and individuals providing such services without registration are subject to enforcement action and recovery proceedings

Important Dates

  • Order Date: February 6, 2026
  • Recovery Certificate Number: RC-8877

Impact Assessment

This enforcement action reinforces SEBI’s commitment to regulating investment advisory and portfolio management services. The order serves as a deterrent against providing unregistered financial services and protects investors from potentially unauthorized advisory activities. Market participants should ensure proper registration before offering investment advisory or portfolio management services.

Impact Justification

Enforcement action against unregistered investment advisory and portfolio management services impacts regulatory compliance and investor protection but does not directly affect market operations or specific securities