RIAs have to register with BSE Administration & Supervision Ltd

By Morningstar |  15-06-21 | 

Securities and Exchange Board of India (SEBI) has granted recognition to BSE Administration & Supervision Limited (BASL) for administration and supervision of Investment Advisers for three years from June 01, 2021.

All existing SEBI registered IAs are required to register with BASL. New applicants will be required to obtain membership of BASL before applying for registration with SEBI as IA. A detailed circular in this regard will be issued by SEBI, separately.

The fees payable to SEBI has been reduced from April 1, 2021, so that there is no change in the total fees payable by IAs.  Thus, the total fees payable by IAs (i.e. fee payable to SEBI plus fees payable to BASL) will be the same as applicable till March 31, 2021.

The Standard Operating Procedure (SOP) for obtaining BASL’s membership, Frequently Asked Questions (FAQs) on the membership and other information in this regard are available on the websites of BASL and BSE.
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