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Norms for Investment Advisors and Research Analysts
- 18 Dec 2024
On 17th December, 2024, the Securities and Exchange Board of India (SEBI) introduced significant relaxations in the regulations governing investment advisors (RIAs) and research analysts (RAs) to encourage greater participation in the market.
Key Points
- Relaxed Norms: Minimum qualification reduced to graduation; prior experience and periodic examination requirements removed.
- Registration: Part-time advisors and analysts can now register, with limits of 75 clients for part-time RIAs.
- Net Worth: Reduced net worth requirements replaced by deposit criteria.
- Client Limits: RIAs with over 300 clients or fee collection exceeding Rs. 3 crore annually must register as non-individual advisors, up from 150 clients previously.
- Disclosures: Advisors must inform clients about the use of AI tools; RAs must conduct KYC for fee-paying clients.
- Restrictions: Analysts’ families cannot distribute services to the same clients, and group-level business segregation is mandated for non-individual RAs.
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