prpri BSAL to administer & supervise activities of SEBI Registered Investment Advisors BSAL to administer & supervise activities of SEBI Registered Investment Advisors

Bombay Stock Exchange (BSE) vide its Media Release on 11th June, 2021 said that it has set up a wholly owned subsidiary company’BSE Administration & Supervision Ltd. (BASL) for carrying out the administration and supervision activities of all SEBI-registered investment advisors (RIA).

It has also created its website: https://www.bseasl.com/ria/index.html, wherein all the data/information related to Investment Advisers will be updated from time to time.

All existing SEBI registered IAs and new applicants desirous of obtaining registration as Investment Advisor will be required to register with BASL as a member. The administration and supervision of BASL members will be accordance with SEBI Regulations and circulars, and Byelaws and circulars / guidelines issued by BASL from time to time.

This has come in purview of the SEBI Circular No.: SEBI/HO/IMD/DF1/CIR/P/2020/148, titled “Administration and Supervision of Investment Advisers” dated August 06, 2020, wherein it stated that: it is decided to recognize a wholly-owned subsidiary of the stock exchange (stock exchange subsidiary) to administer and supervise IAs registered with SEBI.

The SEBI gave the following responsibilities:

i. Supervision of IAs including both on-site and offsite

ii. Grievance redressal of clients and IAs

iii. Administrative action including issuing warning and referring to SEBI for enforcement action

iv. Monitoring activities of IAs by obtaining periodical reports

v. Submission of periodical reports to SEBI

vi. Maintenance of database of IAs

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In case of any query related to the Circular or SEBI Compliances, please feel free to contact us on: 9617286847 / 9179624120. You can also write us on: info@compliancemanager.co.in ; info.compliancemanager@gmail.com or WhatsApp on: https://wa.me/918989281794.

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