Markets regulator Sebi has reduce down application and registration charges for people and corporates searching for a registered investment advisor standing.
Now, people and corporations (partnership) should pay Rs 2,000 whereas making use of for an investment advisor certificates. Earlier, they needed to cough up the next quantity of Rs 5,000 as application fee, in response to a Sebi notification issued on Monday.
The application fee for corporates together with Limited Liability Partnerships (LLPs) has been introduced right down to Rs 10,000 from Rs 25,000.
At the time of grant of a certificates, people and corporations should shell out a fee of Rs 3,000 and Rs 15,000 by our bodies company. Earlier, registration fee was Rs 10,000 and Rs 5 lakh for people in addition to corporations and physique corporates respectively.
The reduce down in charges is anticipated to assist these searching for registration as investment advisors.
The transfer comes after a sequence of tightening of norms by the Securities and Exchange Board of India (Sebi) for registered investment advisors.
In September, Sebi got here out with detailed pointers for investment advisers asking them to make sure segregation of advisory and distribution actions on the shopper degree.
Besides, Sebi had fastened a cap on fee that investment advisers (IA) can cost from purchasers. It had additionally put in place a procedural framework pertaining to audit and record-keeping.
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