Sebi tells investment advisors to share details of all their social media handles every six months. Details here

The Sebi circular stipulates that the concern advisors indispensable stock details of their societal media handles specified arsenic Facebook, X (formerly Twitter), Linkedin and others. The circular besides mentions that the details of each specified platforms indispensable beryllium shared.

At present, Sebi has recognised Investment Advisors Administration and Supervisory Body (IAASB) for the intent of medication and supervision of concern advisors.

The IAASB has been seeking these reports connected an ad-hoc basis. So, it was decided to specify a standardised format for periodic reporting for concern advisors.

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Sebi has present prepared a standardised periodic format for submission of accusation by concern advisors pertaining to their activities connected a periodic ground aft the recommendations from Industry Standards Forum (ISF).

The format

The regulator has released the periodic reporting format successful Annexure I (shown successful representation below) which includes details of shareholding pattern, rank fig of IAASB, Sebi registration fig of concern advisor, and details of complaints filed against the IA.

Besides societal media details, they indispensable stock details with respect to their slope accounts, full fig of persons associated with concern advice, NISM certification details, details of past inspection, among others.

Periodicity

Investment advisors volition taxable periodic reports for fractional yearly periods ending connected September 30 and March 31 of each fiscal year.

For the half-yearly play ending connected March 31, 2024, IAs volition taxable the periodic study wrong 15 days from the day of issuance of circular by IAASB.

For the consequent fractional yearly periods, IAs volition taxable periodic reports wrong 7 moving days from the extremity of the half-yearly play for which details are to beryllium furnished.

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Sebi has released the circular successful a bid to support the interests of investors successful the securities marketplace and to beforehand the improvement of, and to modulate the securities market.

The circular released connected May 7 volition go applicable with contiguous effect.

This circular is disposable connected Sebi website nether the categories legal>circulars, 'info for' > 'investment advisors'.

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Published: 08 May 2024, 05:07 PM IST