SEBI has issued Guidelines for Investment Advisers. A person shall be considered eligible for registration as part-time IA if it:
Is a member of ICAI or ICSI or ICMAI providing their statutory services or an insurance agent having license from Insurance Regulatory and Development Authority of India (‘IRDAI’).
Is professional such as an architect, lawyer, doctor etc.
Is employed as a professor or a teacher etc., or is engaged in education business or activity:
Providing advice or any recommendation, directly or indirectly, in respect of or related to a security or securities, without being registered with or otherwise permitted by the SEBI to provide such advice or recommendation; and
Making any claim, of returns or performance expressly or impliedly, in respect of or related to a security or securities, without being permitted by the SEBI to make such a claim.
The existing IAs shall ensure compliance with the new deposit requirement latest by June 30, 2025. For the new applicants seeking registration as IA, the deposit requirement shall become effective immediately from the date of this circular.
Link – https://www.sebi.gov.in/legal/circulars/jan-2025/guidelines-for-investment-advisers_90632.html
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