Sebi extends time for investment advisers to comply with qualification rule

At present, individual investment advisers were required to comply with enhanced qualification and experience requirements by September 30, 2023

Capital markets regulator Sebi on Wednesday extended the timeline by two years till September 2025 for compliance with enhanced qualification and experience requirements for investment advisers.

At present, individual investment advisers, principal officers of non-individual investment advisers, and persons with investment advisers and associated with the work, were required to comply with enhanced qualification and experience requirements by September 30, 2023.

"Based on representations received from various stakeholders and in view of the emerging landscape of the domain of investment advice... it is now specified that the timeline to comply with the enhanced qualification and experience requirements.. is extended to September 30, 2025," Sebi said on a circular.

BSE Administration & Supervision Ltd (BASL), a wholly-owned subsidiary of BSE, has been directed to bring the provisions of this circular to the notice of its members and also disseminate the same on its website.

The administration and supervision of investment advisers has been delegated to BASL.

This came after the Sebi board approved a proposal in this regard in September.