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SEBI provides exemption to CMAs from seeking registration as Investment Advisers with SEBI
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Posted Date : 07-Oct-2024 , 10:41:23 pm | Posted By CASANSAAR |
SEBI has granted exemption to Cost Accountants (CMA Members) from registering as Investment Advisers - Incidental to his Professional Service.
This landmark decision recognizes the expertise and professionalism of CMAs in investment and financial matters. Kudos to ICMAI for their tireless efforts in advocating for this exemption!
Benefits of this exemption:
• Enhanced professional opportunities for CMAs as Investment advisor
• Increased credibility and recognition
• Better service to clients without additional regulatory burdens
Few points about registration as Investment Advisor with SEBI are as follows
How to get registered as an Investment Adviser
1. The Applicant for grant of registration as an Investment Adviser under SEBI (Investment Advisers) Regulations, 2013 should make an application to SEBI in Form A as provided in the Regulations along with all the necessary supporting documents.
2. Generally, on receipt of Application, the applicant will receive a reply from SEBI within one month. However, the time taken for registration depends on how the applicant fulfils all the registration requirements and provides the complete information in all respects.
3. The applicant is advised to go through the SEBI (Investment Advisers) Regulations, 2013 for checking the eligibility criteria and such other details which may help expedite the registration process.
4. The applicant must mention the following in the covering letter:
a. Whether the applicant is providing investment advisory services prior to these Regulations. If yes, provide details.
b. Details of the investment advice provided prior to such application.
c. It is applying for registration of as a new Investment Adviser providing investment advisory services.
5. As an integral part of the registration process, the applicant will submit the following a. Form A appropriately filled, numbered, duly signed and stamped. b. Application fees of Rs. 5,000/- by way of bank draft in favour of “The Securities and Exchange Board of India”, payable at Mumbai.
6. The applicant shall also make an online application in terms of the guidelines as prescribed by SEBI from time to time.
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Category : SEBI |
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