The firm, BSE Administration & Supervision Ltd (BASL), has acquired recognition from Sebi to administer and supervise investment advisors (IAs) registered with the regulator, and commenced its operation from June 1, the trade stated in an announcement.
All present Sebi-registered IAs and new candidates desirous of acquiring registration as investment advisor will probably be required to register with BASL as a member.
The administration and supervision of BASL members will probably be in accordance with capital markets regulator Sebi guidelines.
BSE Managing Director and CEO Ashishkumar Chauhan stated, “We thank Sebi for reposing its faith in the BSE to administer and supervise investment advisors. Investment advisory has become a key segment for capital market investors.”
He added that advisory companies have additionally advanced from personalised companies to subtle robo advisory with the use of know-how.
The lengthy expertise of the BSE for over 146 years as a frontline regulator will assist in guaranteeing that BASL will preserve highest requirements of governance and practices, Chauhan stated.
This is a crucial step by Sebi to improve the investor religion within the capital markets, he added.