Regulatory Alerts2025-11-25
Securities and Exchange Board of India (Investment Advisers) (Second Amendment) Regulations, 2025
The Securities and Exchange Board of India issued the Second Amendment Regulations, 2025, effective November 25, 2025, to further amend the Investment Advisers Regulations, 2013. The regulations mandate that individual investment advisers exceeding 300 clients or 3 crore rupees in annual fees must transition to non-individual status within three months, while also updating educational and certification requirements for all advisers. Additionally, the amendments introduce compliance officers as mandatory key personnel, remove sub-broker references, and update application forms to reflect these structural and operational changes.
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