9911796707
TMI BlogAdministration and Supervision of Investment AdvisersX X X X Extracts X X X X X X X X Extracts X X X X ..... 6 , allowed registered Investment Advisers (IAs) to use infrastructure of the stock exchanges to purchase and redeem MF units directly from Asset Management Companies on behalf of their clients. 2. As per Regulation 14 of the SEBI (Investment Advisers) Regulations 2013 (hereinafter referred to as IA Regulations ), SEBI can recognize any body/body corporate for the purpose of regulating IAs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly-owned subsidiary of the stock exchange (stock exchange subsidiary) to administer and supervise IAs registered with SEBI. A. Criteria for grant of recognition - The recognition of stock exchange subsidiary, in terms of the aforesaid Regulation 14 , shall be based on the eligibility of the parent entity, i.e. the stock exchange, for which the following eligibility criteria is laid down: i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... redressal, administrative action against IAs, governing IAs, maintaining data, sharing of information with SEBI etc. iv. The subsidiary shall have the necessary infrastructure like adequate office space, equipment and manpower to effectively discharge the below mentioned activities. Infrastructure may be shared with other group entities where required. C. Responsibilities of subsidiary of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Securities and Exchange Board of India Act, 1992 read with Regulation 14(2) of IA Regulations to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 7. The circular is available on SEBI website at www.sebi.gov.in under the categories Info for Investment Advisers and Legal framework - Circulars . Yours ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
