Sebi tells investment advisors to share details of all their social media handles every six months. Details here
Sebi) has released a draft circular which carries the reporting format for investment advisors. The circular states that the investment advisors (IAs) are required to furnish to Sebi, information and reports as may be specified from time to time. The Sebi circular stipulates that the investment advisors must share details of their social media handles such as Facebook, X (formerly Twitter), Linkedin and others.
The circular also mentions that the details of all such platforms must be shared. At present, Sebi has recognised Investment Advisors Administration and Supervisory Body (IAASB) for the purpose of administration and supervision of investment advisors. The IAASB has been seeking these reports on an ad-hoc basis.
So, it was decided to specify a standardised format for periodic reporting for investment advisors. ALSO READ: Sebi rejects NSE’s proposal to extend stock market trading hours Sebi has now prepared a standardised periodic format for submission of information by investment advisors pertaining to their activities on a periodic basis after the recommendations from Industry Standards Forum (ISF). The regulator has released the periodic reporting format in Annexure I (shown in picture below) which includes details of shareholding pattern, membership number of IAASB, Sebi registration number of investment advisor, and details of complaints filed against the IA.
Besides social media details, they must share details with respect to their bank accounts, total number of persons associated with investment advice, NISM certification details, details of last inspection, among others. Investment advisors will submit periodic reports for half yearly periods ending on September 30 and March 31 of every financial year. For
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