Investment advisors under Sebi lens over complaints of overcharging

Sebi pulled up Highbrow Market Research for giving multiple intra-day trading tips to clients, despite their risk profile being averse to such positions

Registered investment advisors (RIAs) have come under the lens of the Securities and Exchange Board of India (Sebi) due to the increase in the number of complaints against them. According to people in the know, the market regulator has received a large number of complaints about high fees and clients being given an inaccurate picture of how much returns to expect.

Sebi also highlighted the issue while proposing self-regulatory body for RIAs in its recent consultation paper. "Since the last five years, the number of RIAs has shown an increase, particularly individuals, and there has been a corresponding increase