Comprehensive SEBI IA registration guide covers eligibility, NISM certification, fees, documents, and ongoing compliance obligations.
SEBI Investment Adviser Registration: Key Requirements
Entities or individuals offering personalized investment advice must register with SEBI under the Investment Advisers Regulations, 2013. Eligibility includes a minimum net worth of ₹50 lakh for individuals and ₹1 crore for firms, along with relevant educational qualifications and clean regulatory records.
Applicants must pass NISM Series X-A certification, submit Form A via the SEBI portal, furnish proof of professional indemnity insurance, and deposit with the Investors Protection and Education Fund (IPEF). Ongoing obligations include maintaining client records, updating the SEBI web portal, and adhering to fiduciary conduct standards.
Practical Implication: Registrants must ensure continuous compliance with conflict-of-interest disclosures and suitability assessments. Non-compliance can lead to suspension or cancellation of registration under Regulation 12.
Citations
- SEBI (Investment Advisers) Regulations, 2013