Strict eligibility standards for Investment Advisors

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(Commerce Rep) Mumbai, Ta. 18 February 2020, Tuesday

For the purpose of protecting the interest of investors, the capital markets regulator Sebi approved today the SEBI board meeting to tighten its eligibility criteria for investment advisers and to introduce an upper limit for the fees charged by investment advisers.

Sebi has decided to ban the use of titles by independent financial advisers or wealth advisors who deal in the distribution of securities.

The SEBI Board today approved a number of amendments to the regulations for Investment Advisers, which stated that individual advisors cannot provide distribution services, while units will need to separate advisory and distribution activities at their customer level. These new rules are set out after considering four consultation papers and public comments.

For transparency the agreement has to be made between the advisor and the customer with all the terms and conditions. Sebi will also raise eligibility criteria, including networth qualification and experience for registration as an Investment Advisor.


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