My auditor is of the view that this compliance needs to be met only for FY2022 (and not for FY2021). Thus, no such certificate needs to be procured for FY2021. Thought of taking an opinion from you. Do we need to get such annual certificate for FY2021 by September 30, 2021 OR this is applicable […]
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We have also got one signed document from the client (owner of the company) that the advisory fee for the personal portfolio advisory will be paid from the company’s account. Please guide with some references from SEBI Regulation. Response: The SEBI IA Guidelines Circular dt. 23-9-2020 suggests in Annexure-A prescribed under Regulation 19 (1) […]
Activities a compliance officer is supposed to do? What are his roles and responsibilities? What we as a company should expect of a compliance officer or check with him and at what frequency? Response: According to Section 20 of the IA Regulations An investment adviser which is a body corporate or a partnership firm […]
If total fee payable is Rs. 20,000 and date of Financial Planning Service Engagement Agreement is 1st January, fee is to be paid as follows- Rs. 5,000 shall be due and payable on each of 1st January (for 1st quarter), 1st April (for 2nd quarter), 1st July (for 3rd quarter) and 1st October (for 4th […]
I have submitted my application for registration on SCORES, but I am not receiving any reply. The email was sent on scores@sebi.gov.in ? Response: Please ensure the following: 1: Form-B (Authentication for SCORES BY SEBI RIA) filled, printed signed and scan copy emailed to scores@sebi.gov.in and CC to: sebiria@sebi.gov.in, manaswinim@sebi.gov.in 2: Also send the […]
All 3 of them offer almost the same functionalities in a different way. All data may be going into the same database. We are confused which platform to use when. Please help us know what functions/processes under each KRA are mandatory from the compliance point of view. Response: CKYC & KRA-KYC – both are […]
Response: Regulation 19(2) of IA Regulations clarifies that a document can be maintained either in physical or electronic form. In case of electronic form, it shall be digitally signed.
I do my personal transactions in a personal bank account and all professional transactions (Collecting fees, Office expenses etc.) are in a Good Moneying Bank account. Now when I try registering myself with BSE ASAL, they have both the options while asking for the status – Individual as well as Proprietor. I called them and […]
(a) to obtain prior SEBI approval for BUYER and (b) is there a requirement for the current Principal Officer to continue in his position although he is not a part of the new management. Response to Sub-Query-1 Yes, Prior approval from SEBI is to be taken. Regulation 15(11) clearly states that “In case of change […]
Response: The disclosure related points relevant to your query i.e. trades in company account or personal trading by PAIA are provided below under 4 categories: Category-1: Mandate regarding ‘Transactions on own account’ According to Regulation 15 of the IA Regulations The following general obligations and responsibilities are mandated: Regulation 15(7): An investment advisor shall not […]