BSE sets up an agency to administer and supervise activities of SEBI Registered Investment Advisors

BSE sets up an agency to administer and supervise activities of SEBI Registered Investment Advisors

Geyatee Deshpande
/ Categories: Trending, DSIJ News

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.

BSE has setup 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). BASL (https://www.bseasl.com/ria/index.html) has received recognition from the Securities and Exchange Board of India (SEBI) to administer and supervise Investment Advisors (IAs) registered with SEBI and commenced its operation from June 1, 2021.

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.

Commenting on this, Shri. Ashishkumar Chauhan, MD & CEO of BSE said, "We thank SEBI for reposing its faith in BSE to administer and supervise Investment Advisors. Investment Advisory has become a key segment for capital market investors. Advisory services have also evolved from personalised services to sophisticated robo advisory with the use of technology. The long experience of BSE for over 146 years as a frontline Regulator will help in ensuring that BASL will maintain highest standards of governance and practices.   This is an important step by SEBI to enhance the investor faith in the capital markets.”

BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. 

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