Sebi reduces registration fee for investment advisors
NEW DELHI: Markets regulator Sebi has reduce down utility and registration charges for people and corporates looking for a registered funding advisor standing.
Now, people and corporations (partnership) must pay Rs 2,000 whereas making use of for an funding advisor certificates. Earlier, they needed to cough up a better quantity of Rs 5,000 as utility price, in keeping with a Sebi notification issued on Monday.
The applying price for corporates together with Restricted Legal responsibility Partnerships (LLPs) has been introduced right down to Rs 10,000 from Rs 25,000.
On the time of grant of a certificates, people and corporations must shell out a price of Rs 3,000 and Rs 15,000 by our bodies company. Earlier, registration price was Rs 10,000 and Rs 5 lakh for people in addition to corporations and physique corporates respectively.
The reduce down in charges is predicted to assist these looking for registration as funding advisors.
The transfer comes after a sequence of tightening of norms by the Securities and Trade Board of India (Sebi) for registered funding advisors.
In September, Sebi got here out with detailed pointers for funding advisers asking them to make sure segregation of advisory and distribution actions on the consumer stage.
Apart from, Sebi had fastened a cap on price that funding advisers (IA) can cost from shoppers. It had additionally put in place a procedural framework pertaining to audit and record-keeping.