SEBI has extended the timeline to submit the comments and suggestions on consultation paper on the proposed amendments to the SEBI Investment Advisers Regulation.
Now advisers and AMCs can send their feedback to SEBI till November 30.
In a press release, SEBI has said that based on the representations received from various bodies and associations, the market regulator has decided to extend the timeline to submit the feedback on the consultation paper.
Last month, the market regulator had come out with a consultation paper which proposes a host of amendments to SEBI (Investment Advisers) Regulations 2013. Among the key proposals were
- To do away with the exemption given to mutual fund advisers in which they are allowed to charge a fee for mutual fund advisory services apart from commission income,
- No one can use nomenclature like ‘independent financial advisers’ (IFAs) and ‘wealth managers’ without registering with SEBI as RIA
- Individuals who opt to continue with the current model of commission can use the nomenclature ‘mutual fund distributor’.
You can email your feedback to sebiria@sebi.gov.in or send it by post to Naveen Sharma, Deputy General Manager, Investment Management Department, SEBI, SEBI Bhavan, Plot No. C4-A, G Block, BKC, Mumbai – 400051.