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SEBI has issued a Consultation Paper on 16th January, 2020 seeking for public comments on the proposed changes in the SEBI guidelines for Investment Advisers. SEBI approved the changes in the Board Meeting held in February, 2020.
SEBI on 3rd July, 2020 in its notification amends the SEBI (Investment Adviser) Regulations, 2013 to strengthen the regulatory framework for investment advisers. The amendments made will be effective from 90th day from the date of its Publication in the official gazette.
The article analyses the amendments made by SEBI for investment advisers.
SEBI in January 2020 issued a consultation paper to review the regulatory framework for Investment Advisers. The paper proposes segregation between advisory, distribution & execution given to a client by the investment advisers.
SEBI has approved all the changes made after the consultation paper was presented & notified the same as SEBI (Investment Advisers) (Amendment) Regulations, 2020[1] or (Amendment Regulations, 2020). These regulations came into force on the 90th day from the date of publication in the official gazette.
The Amendments are:
SEBI is a regulatory body trusted with the duty to promote & protect the interests of the investor for the security market in India. SEBI recently rolled out the SEBI (Investment Adviser) Regulations amendment & the amendment was made after the presentation of consultation paper by SEBI in year 2016, 2017, 2018 & 2020 to promote & enhance the effective regulation of investment adviser.
Thus, there is a need to regulate the framework monitoring the advisory industry to ensure transparency & honesty of the IA’s advice given. However, there are few loopholes in the regulations that needed to be re-analyzed.
Read our article: All about SEBI reviews Norms of Investment
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