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SEBI Mandates Standardized Periodic Reporting for Investment Advisers

Published on May 10, 2024
Current Context: The Securities and Exchange Board of India (SEBI) has indeed issued a mandate for standardized periodic reporting for Investment Advisers (IAs). 
SEBI Mandates Standardized Periodic Reporting for Investment Advisers
  • Here are the key points from the mandate.
    • Periodic Reports: IAs are directed to submit periodic reports for half-yearly periods ending on September 30 and March 31 of every financial year.
    • Submission Deadline: IAs need to submit the periodic report for the half-year period ended on March 31, 2024, to the Investment Advisers Administration and Supervisory Body (IAASB) within 15 days from the date of issuance of the circular by the supervisory body. For subsequent half-yearly periods, IAs will be required to submit periodic reports within seven working days from the end of the half-yearly period.
    • Report Contents: Under the new format, investment advisers have to disclose details of their social media handles, bank accounts used for receiving advisory fee, NISM certification details, information about the last inspection carried out by SEBI or IAASB, details of advertisements issued during the half-year period, and information on publishing of complaints against them.

Question:

Q.1 What is the deadline for IAs to submit the periodic report for the half-year period ended on March 31, 2024?
a. Within 7 working days from the end of the half-yearly period
b. Within 15 days from the date of issuance of the circular by the supervisory body
c. Within 30 days from the end of the half-yearly period
d. Within 10 days from the date of issuance of the circular by the supervisory body
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