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SEBI granted two years extension to RIAs at its recent board meeting to comply with the enhanced qualification and experience requirements.
RIAs now have time up to September 30, 2025 as against September 30, 2023 earlier.
SEBI said, “Based on representations received from various stakeholders and in view of the emerging landscape of the domain of investment advice, it has been decided to allow time up to September 30, 2025 to comply with these requirements.”
According to SEBI norms, RIAs and their employees should have at least five years of advising experience in financial product or securities or funds or asset or portfolio management.
In another development, the Board approved amendments to IPEF (Investor Protection and Education Fund), LODR (Listing Obligations and Disclosure Requirement), REIT and InvIT Regulations for streamlining the process of claiming unclaimed amounts further and for creating a regulatory framework for the segregation of unclaimed amounts of investors in the IPEF.
“Investors may approach the debt listed entity/ REIT/ InvIT to claim their unclaimed amounts, thereby ensuring minimal disruptions in the claim process for investors”, said the regulator.
