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Operating Guidelines for Investment Advisers in International Financial Services Centre. - SEBI - SEBI/HO/IMD/DF1/CIR/P/2020/04

Extract

..... SEBI can issue guidelines for any entity desirous of undertaking any other financial services relating to securities market. 2. Based on the representations received from various stakeholders, it has been decided to put in place ‘Operating Guidelines for Investment Advisers in IFSC’. The same is annexed herewith. 3. 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. 4. The circular is available on SEBI website at www.sebi.gov.in under the categories “Info for - Investment Advisers” and "Legal framework - Cir .....

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Operating Guidelines for Investment Advisers in International Financial Services Centre. - SEBI

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..... ication can act as an Investment Adviser (IA) in the IFSC, in the following forms- a. Any recognised entity or entities desirous of operating in IFSC as an IA, may form a company or LLP to provide investment advisory services. Explanation: “Foreign jurisdiction” shall be construed in accordance with Clause 2(1)(f) of SEBI (IFSC) Guidelines) 2015. “Recognised entity” shall be construed in accordance with Clause 2(1)(j) of SEBI (IFSC) Guidelines) 2015. 4. Persons seeking registration under the Investment Adviser Regulations read with these Guidelines shall provide investment advisory services only to those persons referred in Clause 9 (3) of the IFSC Guidelines. Further, persons resident outside India and non-resident .....

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Operating Guidelines for Investment Advisers in International Financial Services Centre. - SEBI

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..... in India- i. from National Institute of Securities Markets (NISM); or ii. from any other organization or institution including Financial Planning Standards Board India or any recognized stock exchange in India provided that such certification is accredited by NISM b. in respect of partners and representatives resident outside India, from any other organization or institution or association or stock exchange which is recognized/ accredited by a Financial Market regulator in that foreign jurisdiction. However, certification from NISM shall be mandatory for partners and representatives of applicants who offer investment advice in relation to Indian securities markets. 8. Net Worth Requirement [Corresponding Regulation in Investment Adviser Reg .....

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Operating Guidelines for Investment Advisers in International Financial Services Centre. - SEBI

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