The Securities and Exchange Board of India (SEBI) has issued clarifications on Operating Guidelines for Investment Advisers in the International Financial Services Centre (IFSC).
Based on the representation received from the stakeholder regarding the said circular, the net worth requirement for registered Investment Adviser in IFSC is revised to UD 700,000.
The SEBI also clarified that existing recognized entities in the International Financial Services Centre (IFSC) can also apply for IA registration without forming a separate company or LLP.
This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
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