Schedule - 03 - Code of Conduct for Investment Adviser - Securities and Exchange Board of India (Investment Advisers) Regulations 2013

THIRD SCHEDULE Securities and Exchange Board of India(Investment Advisers) Regulations, 2013 [See sub-regulation (9) of regulation 15] CODE OF CONDUCT FOR INVESTMENT ADVISER 1. Honesty and fairness An investment adviser shall act honestly, fairly and in the best interests of its clients and in the integrity of the market. 2. Diligence An investment adviser shall act with due skill, care and diligence in the best interests of its clients and shall ensure that its advice is offered after thorough analysis and taking into account available alternatives. 3. Capabilities An investment adviser shall have and employ effectively appropriate resources and procedures which are needed for the efficient performance of its business activities. 4. Information about clients An investment adviser shall seek from its clients, information about their financial situation, investment experience and investment objectives relevant to the services to be provided and maintain confidentiality of such information. 5. Information to its clients An investment adviser shall make adequate disclosures of relevant material information while dealing with its clients. 6. Fair and reasonable charges An investment adviser advising a client may charge fees, subject to any ceiling as may be specified by the Board 1 [ **** ] . The investment adviser shall ensure that fees charged to the clients is fair and reasonable. 7. Conflicts of interest An investment adviser shall try to avoid conflicts of interest as far as possible and when they cannot be avoided, it shall ensure that appropriate disclosures are made to the clients and that the clients are fairly treated. 8. Compliance An investment adviser including its 2 [ partners, principal officer and persons associated with investment advice ] shall comply with all regulatory requirements applicable to the conduct of its business activities so as to promote the best interests of clients and the integrity of the market. 9. Responsibility of senior management The senior management of a body corporate which is registered as investment adviser shall bear primary responsibility for ensuring the maintenance of appropriate standards of conduct and adherence to proper procedures by the body corporate. ************* NOTES:- 1. Omitted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020 before it was read as , if any 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020 before it was read as representative(s)