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SEBI WTM Ananth Narayan G has asked RIAs to do self-regulation to stop the spread of unregistered IAs giving misleading advice to people. He believes that this will help to solve this problem as RIAs understand the ground realities better than regulators.
Ananth was talking at the ASPIRE 2025 event held by Association of Registered Investment Advisors (ARIA) held today in Mumbai.
He asked ARIA to become a quasi Self Regulatory Organization (SRO) by following the footsteps of AMFI. He has asked for engagement of the RIA community to make the recent initiatives of the regulator like the introduction of UPI handle ‘Payright’ to identify registered RIAs a success.
Besides, Ananth said that there is need for more IAs and pointed out that the regulator has worked with social media platforms to remove over about 70,000 handles and posts on social media platforms offering misleading information.
The SEBI WTM emphasised on the importance of RIAs to make investors risk aware and undertake responsible financial planning with appropriate asset allocation. He asked the regulators, policymakers and RIAs to work together to continue sustained capital formation and warned the stakeholders to not become complacent due to the recent growth.
