SEBI notifies Changes to Investment Advisers Regulations

The Securities Exchange Board of India (SEBI), vide notification no. SEBI/LAD-NRO/GN/2023/154 issued on October 9, 2023 has notified the Securities and Exchange Board of India (Investment Advisers) (Amendment) Regulations, 2023. They shall come into force with effect from September 30, 2023.

By virtue of the authority granted in Section 30 of the Securities and Exchange Board of India Act, 1992, the Board has enacted the following regulations to introduce further amendments to the Securities and Exchange Board of India (Investment Advisers) Regulations of 2013.

In the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013, in regulation 7, in sub-regulation (1), in the first proviso thereto, -

1. after the words “Provided that” and before the words ”investment advisers”, the word “the” shall be inserted;
2. after the words “investment advice” and before the words “comply with”, the word “shall“ shall be inserted;
3. the word “such” appearing after the words “comply with”, shall be substituted with the words “the”; and
4. for the words “three years”, the words “such time as may be specified by the Board” shall be substituted.

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