Sebi issues periodic reporting format for investment advisers
Investment advisers have to disclose several details such as their social media handles, bank accounts, NISM details, etc
SEBI grants LIC 3 more years to achieve 10 pc public shareholding norm
New Delhi: Markets regulator Sebi on Wednesday came out with a standardised periodic reporting format for submission of information by investment advisers (IAs) pertaining to their activities, whereby they also need to disclose their social media handles. At present, the Investment Advisers Administration and Supervisory Body (IAASB) has been seeking reports from IAs on an ad-hoc basis.
IAASB has been recognised by Sebi for the purpose of administration and supervision of investment advisers. Under the new format, investment advisers have to disclose details of their social media handles, bank accounts used for receiving advisory fee, NISM certification details, information about the last inspection carried out by Sebi or IAASB, details of advertisements issued during the half-year period and information on publishing of complaints against them, Sebi said in a circular.
Investment advisers have been directed to submit periodic reports for half-yearly periods ending on September 30 and March 31 of every financial year.