Regulatory Alerts2024-05-21
Master Circular for Investment Advisers
The Securities and Exchange Board of India issued this Master Circular to consolidate all applicable directions for Investment Advisers, superseding the previous version dated June 15, 2023. The document mandates strict client-level segregation of advisory and distribution activities, enforces specific fee caps under Assets under Advice and Fixed fee modes, and requires enhanced qualification timelines for advisers. Additionally, it outlines rigorous conduct measures including prohibitions on free trials, mandatory risk profiling, and restrictions on fee collection methods to ensure transparency and investor protection.
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