SEBI Master Circular for Investment Advisers

SEBI has issued a Master Circular for Investment Advisers on May 21, 2023. The circular provides that a stock exchange recognized to act as an AASB shall inter-alia have following responsibilities:

  1. Supervision of IAs including both on-site and offsite
  2. Grievance redressal of clients and IAs
  3. Administrative action including issuing warning and referring to SEBI for enforcement action
  4. Monitoring activities of IAs by obtaining periodical reports
  5. Submission of periodical reports to SEBI
  6. Maintenance of database of IAs