Amended Investment Advisory Rules Relax Definition, Introduce AI Usage Guidelines.

The Securities and Exchange Board of India issued the Investment Advisers (Second Amendment) Regulations, 2024, amending the Investment Advisers Regulations, 2013. Key changes include: excluding investment products from the definition of investment advice; introducing the concept of part-time investment advisers; revising qualification, certification, and deposit requirements; mandating a functional website; provisions related to use of AI tools; enhanced disclosure obligations; and compliance monitoring through independent professionals or compliance officers. .....

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