Investment Adviser Administration and Supervisory Body - "BSE Administration & Supervision Limited"

BSE Administration & Supervision Limited

BSE Administration & Supervision Limited (BASL), a wholly owned subsidiary of BSE Limited, has been granted recognition as “Investment Adviser Administration and Supervisory Body” (IAASB) for a period of three years from June 01, 2021 vide CIRCULAR SEBI/HO/IMD/IMD-I/DOF1/P/CIR/2021/579 dated June 18, 2021 for the purpose of regulating Investment Advisers (“IA”) and delegate administration and supervision of the IAs.

Responsibilities of the IAASB

i. Supervision of IAs including both on-site and offsite;

ii. Grievance redressal of clients and IAs;

iii. Administrative action including issuing warning and referring to SEBI for enforcement action;

iv. Monitoring activities of IAs by obtaining periodical reports;

v. Submission of periodical reports to SEBI;

vi. Maintenance of database of IAs.

All existing SEBI registered IAs shall be required to seek membership of BASL. Further, new applicants shall be required to obtain membership of BASL before applying for registration with SEBI as IA. A detailed circular in this regard will be issued by SEBI, separately.

The Board of the IAASB shall, at all times, be chaired by a Public Interest Director and shall also have, at all times, a Director who will bring investor perspective. 

SEBI shall continue to concurrently administer and supervise all registered IAs and IAASB shall be subject to periodic inspection by SEBI.



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