To strengthen the regulatory framework relating to Securities Market Intermediaries, SEBI has notified amendments regarding Eligibility criteria, implementation services and fees chargeable by them, in respect of Investm

SEBI has notified amendments to SEBI (Investment Advisers) Regulations, 2013. These amendments are intended to strengthen the regulatory framework for investment advisers. The amendments highlights in respect of the following three areas are as follows: Eligibility Criteria for Investment Advisers Enhanced eligibility criteria for registration as an Investment Adviser including net worth of ₹50 lakhs for non-individuals and ₹5 lakhs for individuals. Individual investment adviser or a principal officer of a non-individual investment adviser to have enhanced professional or post-graduate qualification in relevant subjects and relevant experience of five years while grandfathering existing Individual Investment Advisers from complying with the enhanced qualification and experience as specified by SEBI. Individuals registered as investment advisers whose number of clients exceed 150 in total, shall apply for registration with SEBI as non-individual investment adviser. Implementation services Investment Advisers are allowed to provide implementation services (Execution) through direct schemes/ products in the securities market. However, no consideration can be received directly or indirectly, at investment adviser's group or family level for these services. Fees The fee charged by the Investment Adviser for providing Investment Advice from a client shall be in the manner as specified by SEBI.