RegAlert

Rule · SEBI · 10 Oct 2023

Extension of compliance timeline for qualification and experience requirements under SEBI Investment Advisers Regulations

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Registered Investment Advisers must comply with enhanced qualification and experience requirements under regulation 7(1) of the SEBI (Investment Advisers) Regulations, 2013. The deadline for this compliance is extended to September 30, 2025. This extension applies to individual investment advisers, principal officers of non-individual investment advisers, and persons associated with investment advice. The timeline was previously set for September 30, 2023, following amendments made in 2020 and 2023.

IndiaSecurities and Exchange Board of India

CIRCULAR
SEBI/HO/MIRSD/MIRSD-PoD-2/P/CIR/2023/168 October 10, 2023 To All Registered Investment Advisers BSE Administration & Supervision Limited Madam / Sir, Subject: Extension in timeline for compliance with qualification and experience requirements under Regulation 7(1) of SEBI (Investment Advisers) Regulations, 2013

  1. Regulation 7 of SEBI (Investment Advisers) Regulations, 2013, as amended vide SEBI
    (Investment Advisers) (Amendment) Regulations, 2020, specifies the qualification and experience requirements for investment advisers and provides that an individual investment adviser or principal officer of a non-individual investment adviser registered under these regulations and persons associated with investment advice shall comply with the enhanced qualification and experience requirements specified in regulation 7(1) within a period of three years, i.e., by September 30, 2023.

  2. Based on the representations received from various stakeholders and in view of the
    emerging landscape of the domain of investment advice, the first proviso to regulation 7(1) of SEBI (Investment Advisers) Regulations, 2013 has been amended with effect from September 30, 2023, vide the SEBI (Investment Advisers) (Amendment) Regulations, 2023 dated October 09, 2023. Accordingly, it is now specified that the timeline to comply with the enhanced qualification and experience requirements under regulation 7(1) is extended to September 30, 2025.

  3. BSE Administration & Supervision Limited is directed to bring the provisions of this circular
    to the notice of its members and also disseminate the same on its website.

  4. This circular is issued in exercise of the powers conferred under section 11(1) of the
    Securities and Exchange Board of India Act, 1992 read with regulation 7(1) SEBI (Investment Advisers) Regulations, 2013, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

  5. This circular is available on the SEBI website at www.sebi.gov.in under the categories
    "Legal  Circulars" and "Info for  Investment Advisers".
    Yours faithfully,
    Srishti Ambokar
    Deputy General Manager
    Tel. No. 022-26449354 srishtijc@sebi.gov.in

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The Securities and Exchange Boardof India Act, 1992 (Act No. 15 of…1992 · IN-LAWThe Securities and Exchange Board of India Act, 1992 (Act No. 15 of 1992) (1992-04-04)SEBI (Investment Advisers)Regulations, 2013Not in RegAlertSEBI (Investment Advisers) Regulations, 2013 — Not in RegAlertMentions (1)a document this one mentionsopen the list below the graph ▾Mentions (1): a document this one mentions without changing it — open the list below the graphExtension of compliancetimeline for qualification an…2023-10-10 · this documentExtension of compliance timeline for qualification and experience requirements under SEBI Investment Advisers Regulations (2023-10-10)Mentions (1)a document that mentions itopen the list below the graph ▾Mentions (1): a document that mentions it without changing it — open the list below the graph
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Issued under
  • The Securities and Exchange Board of India Act, 1992 (Act No. 15 of 1992)1992 · IN-LAW

    “This circular is issued in exercise of the powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992”

  • SEBI (Investment Advisers) Regulations, 2013Not in RegAlert

    “Regulation 7 of SEBI (Investment Advisers) Regulations, 2013, as amended vide SEBI (Investment Advisers) (Amendment) Regulations, 2020, specifies the qualification and experience requirements”

Mentions (2): 1 document this one mentions and 1 document that mentions it, without changing it
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