The Securities and Exchange Board of India (SEBI) on May 02, 2024, issued the Framework for administration and supervision of Research Analysts and Investment Advisers.
The following has been stated namely: -
• Stock Exchange may undertake the activities of administration and supervision over specified intermediaries on such terms and conditions and to such an extent as may be specified. Accordingly, Stock Exchange shall now be recognised as RAASB and IAASB for administration and supervision of Research Analysts (‘RAs’) and Investment Advisers (‘IAs’) respectively. The detailed framework for RAASB and IAASB is specified in Annexure I.
• The framework includes the provisions governing enlistment including enlistment of existing RAs/IAs and of applicants whose registration applications are under process.
• This circular shall become effective on July 25, 2024.
[Notification No. SEBI/HO/MIRSD/MIRSD-SEC-3/P/CIR/2024/34]
