Sebi overhauls regulatory frame work for investment advisers, research analysts
Markets regulator Sebi has amended norms governing investment advisers (IAs) and research analysts (RAs) to facilitate ease of doing business by providing relaxation in eligibility criteria for registration and simplifying the compliance requirements. In two separate notifications, Sebi said the minimum qualification requirement has been reduced to a graduate degree in specified fields and net-worth requirement has been replaced with the requirement of deposits.
Further, it has introduced «part-time investment advisor» and «part-time research analyst» and the definition of investment advice/research service has been tweaked to exclude trading calls.
Relaxing the minimum qualification requirements for individuals associated with investment advice or research services, Sebi said that now graduates can become certified IA/RA.
However, mandatory NISM certifications have been introduced for individual investment advisors, principal officers of non-individual investment advisors and associated persons.
«Persons associated with investment advice/research services shall, at all times, have a minimum qualification of graduate degree in any discipline from a university or institution recognised by the Central Government or any State Government or a recognised foreign university or institution,» Sebi said.
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