SEBI Investment Advisors Registrations

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What is SEBI Investment Advisors Registrations?

The Investment Advisor is a person or entity who is engaged in the task of providing advice on investments to its clients or other persons/group of persons in return of some consideration. The advice may be in the form of dealing in securities or investment products or any advice relating to investing in purchase, sale or dealing in the securities otherwise.

The Investment Advisor may be in the form of an individual, an entity, a partnership firm or even an NBFC. But no person shall carry on the activities of investment advisor without obtaining the registration certificate from SEBI under SEBI (Investment Advisors)Regulations, 2013.

Persons Exempted from Seeking Registration
  • General comments given in good faith without pointing a particular investment product;
  • Investment advice given by an insurance agent registered with IRDAI;
  • Investment advice given by a pension advisor registered with Pension Fund Regulatory and Development Authority
  • Advice provided by a distributer of Mutual funds incidental to its primary activity;
  • Advice provided by an advocate, lawyer to its clients incidental to their legal practice;
  • Members of the professional bodies such as ICAI, ICSI, ICWAI to their clients, incidental to their professional service;
  • Stock brokers, sub-brokers, merchant bankers providing investment advice incidental to their primary activities;
  • Any fund manager/AIF registered with the Board;
  • Advice provided exclusively to the persons based out of India.
  • Representative or partner of Investment Advisor registered with SEBI;
  • Any other person as notified by the Board.
Eligibility Criteria for consideration of application

The Board takes into account the following points of importance for the consideration of application:

  • The applicant shall be an individual, a body corporate or a firm;
  • For individual applicant, the person shall be qualified and certified person, as prescribed by the Board;
  • In case the Company is the applicant, then all of its representative shall be qualified and certified person, as prescribed by the Board;
  • In case the firm is the applicant, then all of its partners shall be qualified and certified person, as prescribed by the Board;
  • The applicant shall comply with the Capital Adequacy requirements as prescribed by the Board;
  • The applicants shall be fit and proper person;
  • The applicant shall have necessary infrastructure to discharge the functions of the Investment Advisor;
  • The applicant shall not be connected with any entity which has been denied registration in the past;
  • No disciplinary action or criminal suit shall be pending against the applicant;
  • For a Bank and NBFC applicant, necessary permissions shall be taken from the concerned department of the RBI;
  • Foreign incorporated entity shall make an application through a subsidiary set up in India;
  • Foreign individual shall make an application through an office set up in India;
Qualification and Certification Requirements
Following are the minimum qualification requirements as laid down by the Board
  • The applicant/the representatives/the partners shall hold any professional qualification or a post graduate degree or diploma in finance, accountancy, business management, commerce, economics, capital market, banking, insurance or actuarial science;
  • The applicant shall be a graduate with an experience of at least five years in activities relating to advice in financial products or securities or fund or asset or portfolio management;
  • The applicant, shall possess, at all times, a certification on financial planning or fund or asset or portfolio management or investment advisory services from:
  • NISM
  • Any organization or institution accredited by NISM.
Capital Adequacy Requirements
  • The Investment Advisors which are in the form of Company, shall have the minimum Net Owned Funds of not less than 25 lakhs rupees;
  • Individuals and partnership firms, applying for the registration, shall have the Net Owned Funds of not less than 1 Lakh rupees;
  • The existing entities shall comply with the capital requirements within the period of one year from the date of these regulations.


Validity of Certificate of Registration
  • The COR, once issued, shall be valid until it is suspended or cancelled by the Board.
Other Important Conditions
  • The Investment Advisor shall abide by all rules, regulations and provisions as laid down by the Board in respect of their functioning;
  • No information shall be submitted which is false or misleading in any manner;
  • All the Investment Advisors, except the individuals, shall include the words “Investment Advisors” in their name;
  • Individuals shall use the term “Investment Advisor” in all their correspondence with the clients.
Procedure for the grant of Certificate of registration
  • An application, complete in all respect, shall be submitted in Form A with all the necessary documents;
  • Once the application it submitted, SEBI replies within a period of around one month of time;
  • The covering letter of application shall contain the following information:
  • If any prior investment advisory services have been provided by the applicant;
  • Details of such advisory, if provided;
  • Declaration that the applicant is applying for the very first time.
  1. The form for application shall be properly filled, numbered, duly signed and stamped;
  2. The application shall be accompanied by a fees of Rs. 5,000/- by way of bank draft in favour of “The Securities and Exchange Board of India”, payable at Mumbai;

The Board, if satisfied about the fulfillment of all the conditions, shall grant the Certificate of registration on such conditions as it may deem fit and appropriate.

Once the approval is granted, the applicant shall pay the registration fees as under:

  1. For Individuals-  INR 10,000/-
  2. For Corporate- INR 100,000/-

by way of bank draft in favour of “The Securities and Exchange Board of India”,  payable at Mumbai.

For getting registered as an Investment Advisor, Enterslice can be your one step solution for all your registration needs. For more details, visit our website: www.enterslice.com

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