The Securities and Exchange Board of India (SEBI) on February 17, 2025, issued the most important Terms and Conditions (MITC) for Investment Advisers.
The MITC shall be informed by the IAs to the clients via email or any other suitable mode of communication (which can be preserved) by June 30, 2025. For investment advisory agreements entered by IA with clients after the date of this circular, IAs shall incorporate the MITC into the investment advisory agreement and shall disclose and take consent from clients in the manner specified in Clause 2 (xi) of SEBI Circular no. SEBI/HO/MIRSD/ MIRSD-PoD-1/P/CIR/2025/003 dated January 08, 2025.
The MITC for the services of IAs, as standardized by the ISF for Investment Advisers in consultation with IAASB and SEBI is placed in Annexure A.
The provisions of this circular shall come into force with immediate effect.
[Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/19]
