The Securities and Exchange Board of India (SEBI) on April 26, 2024, issued the Securities and Exchange Board of India (Investment Advisers) (Amendment) Regulations, 2024 to further Securities and Exchange Board of India (Investment Advisers) Regulations, 2013.
The following has been amended namely: -
• Regulation 6 which state “Consideration of application and eligibility criteria” clause (n) has been substituted namely: -
“Whether the applicant is enlisted with a body or body corporate recognised under regulation 14
Provided that the existing investment advisers shall be deemed to be enlisted with such a body or body corporate from the date of recognition of such body or body corporate”
• Regulation 14 which states “Recognition of body or body corporate for regulation of investment advisers” shall be substituted namely
“Recognition of body or body corporate for administration and supervision of investment advisers”
• Regulation 30A which states “Savings” has been inserted
They shall come into force on the ninetieth day from April 26, 2024.
[Notification No. SEBI/LAD-NRO/GN/2024/169]
