For the following half-yearly intervals, IAs will likely be required to submit periodic reviews inside seven working days from the tip of the half-yearly interval.
Sebi stated that IAs have to submit the periodic report for the half-year interval ended on March 31, 2024, to IAASB inside 15 days
Markets regulator Sebi on Wednesday got here out with a standardised periodic reporting format for the submission of data by funding advisers (IAs) pertaining to their actions, whereby in addition they have to disclose their social media handles.
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At current, the Funding Advisers Administration and Supervisory Physique (IAASB) has been searching for reviews from IAs on an ad-hoc foundation. IAASB has been recognised by Sebi for the aim of administration and supervision of funding advisers.
Beneath the brand new format, funding advisers must disclose particulars of their social media handles, financial institution accounts used for receiving advisory payment, NISM certification particulars, details about the final inspection carried out by Sebi or IAASB, particulars of ads issued through the half-year interval and knowledge on publishing of complaints towards them, Sebi stated in a round.
Funding advisers have been directed to submit periodic reviews for half-yearly intervals ending on September 30 and March 31 of each monetary yr.
Sebi stated that IAs have to submit the periodic report for the half-year interval ended on March 31, 2024, to IAASB inside 15 days from the date of issuance of the round by the supervisory physique.
For the following half-yearly intervals, IAs will likely be required to submit periodic reviews inside seven working days from the tip of the half-yearly interval.
Final week, the Securities and Alternate Board of India (Sebi) got here out with a framework for the administration and supervision of analysis analysts and funding advisers, whereby a inventory alternate may be authorised to supervise and handle such entities.
Sebi acknowledged a inventory alternate must be granted recognition as RAASB (Analysis Analyst Administration and Supervisory Physique) and IAASB (Funding Adviser Administration and Supervisory Physique).
