SEBI cracks down on Unregistered Advisers

SEBI has finally cracked down on unregistered investment advisers. Taking a welcome move,

In a press release at http://www.sebi.gov.in/sebiweb/home/detail/32004/yes/PR-SEBI-cautions-public-to-deal-with-only-SEBI-registered-investment-advisers-and-research-analysts

The main points

The general public is hereby cautioned to deal with only SEBI registered investment advisers and research analysts for availing investment advisory services/ research services.

It may be noted that under the SEBI Act, 1992, read with SEBI (Investment Advisers) Regulations, 2013 and SEBI (Research Analysts) Regulations, 2014, no person shall act as an investment adviser or a research analyst unless he has obtained a certificate of registration from the Board under these regulations. Acting as such without registration with SEBI may entail initiation of action as deemed appropriate under the SEBI Act, 1992.

With about 120 individual registered investment advisers, where does the public know whom to contact? Well, one is the SEBI website it self, and the other is visiting finvestor.in and getting the names and details of the SEBI RIAs that are listed on finvestor.in

So if you are one of those giving recommendations on Facebook groups or google groups, then make sure that you registered with SEBI as an RIA. The process is simple, but you need to be qualified enough to become an RIA. You may have a look at the process in my previous article at https://finvestor.co.in/2015/09/24/registered-as-a-sebi-registered-investment-advisor-ria/

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Krishna Rath is a SEBI Registered Investment Adviser, and since 2015 has been educating netizens on investments and insurance. Krishna is a fee only SEBI RIA and is Odisha's first SEBI RIA. With background in IT, Krishna is changing the advisory space with new innovations in AdvisoryTech.

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