Regulation 13 - Conditions of certificate. - Securities and Exchange Board of India (Investment Advisers) Regulations 2013

Conditions of certificate. 13. The certificate granted under regulation 9 shall, inter alia, be subject to the following conditions:- (a) the investment adviser shall abide by the provisions of the Act and these regulations; (b) the investment adviser shall forthwith inform the Board in writing, if any information or particulars previously submitted to the Board are found to be false or misleading in any material particular or if there is any material change in the information already submitted; (c) the investment adviser, not being an individual, shall include the words investment adviser in its name: Provided that if the investment advisory service is being provided by a separately identifiable department or division or a subsidiary, then such separately identifiable department or division or subsidiary shall include the words investment adviser in its name; (d) individuals registered as investment advisers shall use the term investment adviser in all their correspondences with their clients 3 [ : ] 4 [ Provided that part-time investment adviser registered under these regulations shall use the term part-time investment adviser in all their correspondences with their clients. ] 5 [ (e) individuals registered as investment advisers whose number of clients exceed three hundred at any point of time or the fee collected during the financial year exceeds three crore rupees, whichever is earlier shall (i) apply for grant of in-principle registration as non-individual investment adviser; (ii) the in-principle registration shall be valid for a period of three months to assist in the transition from registration as individual investment adviser to non-individual investment adviser; (iii) on completion of the transition period or upon grant of certificate of registration as nonindividual investment adviser, whichever is earlier, the investment adviser shall surrender his registration as individual investment adviser. ] 6 [ (f) the number of clients of a part-time investment adviser shall not exceed seventy-five in total at any point of time. ] ************* NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020 before it was read as . 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020 3. Substituted vide Notification No. SEBI/LAD-NRO/GN/2024/219 dated 16-12-2024 before it was read as, 1 [ ; ] 4. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/219 dated 16-12-2024 5. Substituted vide Notification No. SEBI/LAD-NRO/GN/2024/219 dated 16-12-2024 before it was read as, 2 [ (e) individuals registered as investment advisers whose number of clients exceed one hundred and fifty in total, shall apply for registration as non-individual investment adviser within such time as may be specified by the Board. ] 6. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/219 dated 16-12-2024