Sebi asks registered entities to end contracts with unregistered advisors

Quick Summary:

The rule restrains intermediaries, their agents, or associated persons from having direct or indirect ties with any entity that provides investment advice or recommendations without being registered or permitted by Sebi or makes performance or return-related claims unless specifically authorized by the regulator to do so.

This came after Sebi in August amended rules aimed at regulating associations between intermediaries (like stock exchanges, clearing corporations, and depositories) and entities providing financial advice or making performance claims.

Markets regulator Sebi on Tuesday provided three months to registered entities and their agents to terminate their existing contracts with unregistered financial advisors.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Unregistered advisors Markets Sebi Stock market Investment

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 22:18:25 (5 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 521 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23204179

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