भारतीय (cid:366)ितभूित और िविनमय बोड(cid:330)
Securities and Exchange Board of India
CIRCULAR
SEBI/HO/MIRSD/MIRSD-PoD-2/P/CIR/2024/38 May 07, 2024
To
All Investment Advisers
Investment Adviser Administration and Supervisory Body (IAASB)
Madam/Sir,
Subject: Periodic reporting format for Investment Advisers
1. In terms of Regulation 15(12) of Securities and Exchange Board of India
(Investment Advisers) Regulations, 2013 (“IA Regulations”), investment advisers
are required to furnish to SEBI, information and reports as may be specified by
SEBI from time to time.
2. SEBI has recognized Investment Advisers Administration and Supervisory Body
(“IAASB”) for the purpose of administration and supervision of Investment Advisers
(“IAs”) under regulation 14 of the IA Regulations. At present, the IAASB has been
seeking reports from IAs on an ad-hoc basis. It is decided to specify a standardized
format for periodic reporting for IAs.
Consultative process for development of periodic reporting format
3. Pursuant to formation of Industry Standards Forum (“ISF”) for IAs, ISF has
discussed the development of a standardized format for periodic reporting for IAs
and has provided its recommendations to SEBI in this regard. Based on the
recommendations received from ISF, a standardized periodic reporting format for
submission of information by IAs pertaining to their activities on periodic basis has
been prepared. The periodic reporting format is enclosed as Annexure I.
Periodicity of reporting
4. IAs shall submit periodic report for half-yearly periods ending on September 30 and
March 31 of every financial year.
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Timelines for submission of periodic reports
5. IAASB is directed to make necessary arrangements for obtaining periodic reports
from IAs in the format specified in Annexure I and shall issue a circular to IAs in
this regard, within thirty days from the date of issuance of this circular.
6. IAs shall submit periodic report in the format specified in Annexure I from the half-
yearly period ending on March 31, 2024. The timelines for submission of periodic
reports by IAs shall be as under:
6.1. IAs shall submit the periodic report for the half-yearly period ending on March
31, 2024 to IAASB within a period of fifteen days from the date of issuance of
circular by IAASB.
6.2. For the subsequent half-yearly periods, IAs shall submit periodic reports within
seven working days from the end of the half-yearly period for which details are
to be furnished.
Applicability of circular
7. This circular shall become applicable with immediate effect.
8. This circular is issued in exercise of powers conferred under Section 11(1) of the
Securities and Exchange Board of India Act, 1992 read with Regulation 14 and
Regulation 15(12) of IA Regulations to protect the interests of investors in
securities market and to promote the development of, and to regulate the securities
market.
9. This circular is available on SEBI website at www.sebi.gov.in under the categories
"Legal > Circulars", “Info For > Investment Advisers”.
Yours faithfully,
Aradhana Verma
General Manager
Tel. No: 022-26449633
E-mail: aradhanad@sebi.gov.in
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Annexure I
Periodic Reporting Format for Investment Advisers
General details of Investment Adviser (IA) for the half year ended on
………………(DD/MM/YYYY)
Sr. Particulars Details
No
.
1 Registered Name of IA (as per SEBI
registration certificate)
2 Trade Name/ Brand Name as IA
3 Permanent Account Number (PAN)
4 SEBI Registration Number
5 Enlistment/Membership Number of IAASB
6 Logo (if any) Yes/No
7 Date of Birth for individual IA/ Date of
Incorporation for Non Individual IA
(DD/MM/YYYY)
8 Legal Structure (Individual/partnership
/LLP/body corporate)
9 Registered Office Address
10 Correspondence Address
11 Address of Principal place of business
12 Number of branches
13 Addresses of branches (provide details of all
branches)
14 Official Website Address
15 Details of Facebook Twitter Others
Social Media (Please
handles as specify)
an IA Social Media Type
(provide (e.g. Facebook, Twitter,
details for all Linkedin, etc.)
such Name of Account
platforms) /Page/Channel, etc.
16 Details of Bank Bank Bank
bank Account-1 Account-2 Account-
account/s for 3
receiving Name as per Bank Account
advisory fees Account No.
(provide Type of account
details of all IFSC Code
such bank Bank Name
accounts) Bank Branch Name
17 Details of Name
Contact Date of Birth
Person (DD/MM/YYYY)
Mobile
Email id
18 Name
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Details of Date of Birth
Compliance (DD/MM/YYYY)
Officer Mobile
Email id
19 Details of Name
Principal Date of Birth
Officer (PO) (DD/MM/YYYY)
PAN
Mobile
Email id
Qualification of PO
Experience of PO (In years)
Designation of PO (managing
director /designated director/
managing partner etc.)
20 Details of Name
Managing PAN
Director Date of Birth
(DD/MM/YYYY)
DIN
Mobile
Email id
21 Details of Director-1 Director-2 Director-3
other Name
directors PAN
(List of Date of Birth
directors) (DD/MM/YYYY)
DIN
22 Shareholding Sharehold Shareholde Sharehol
Pattern er-1 r-2 der-3
(provide Name of shareholder
details of Number of shares
shareholders % of shareholding
having a
holding of
10% or
more)
23 Total number of Persons Associated with
Investment Advice (PAIA)
(does not include individual IA or principal
officer of non-individual IA)
24 NISM Please specify for each person whether the person is IA/PAIA/PO
certification
details Name Person-1 Person-2 Person-3
(provide Email ID
details of all Date of Birth (DD/MM/YYYY)
such PAN
persons) Validity NISM From
of -X A (DD/MM/Y
Certific YYY)
ate To
(DD/MM/Y
YYY)
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NISM From
- X B (DD/MM/Y
YYY)
To
(DD/MM/Y
YYY)
25 Details of Inspection carried out by:
last (SEBI/IAASB)
inspection Date of last inspection
(DD/MM/YYYY)
Period of Inspection
Any adverse remarks of
inspection
Remedial steps taken to
address adverse remarks
26 Details of Number of Advertisements
Advertiseme issued during the half year
nts issued period
Number of Advertisements
approved by IAASB during
the half year period
27 Publishing of Whether complaints data
Complaints have been updated on the
and Investor website of the IA or in
Charter absence of website,
communicated to clients by
7th of the succeeding
month for each month of the
half year period (Yes/No)
Whether Investor Charter has
been published on the
website of the IA or in
absence of website,
communicated to clients
(Yes/No)
Details of the complaints against Investment Adviser (IA) for the half year ended on
………………(DD/MM/YYYY)
Sr. Particulars Complaints Complaints Total
No. received from other
through sources
SCORES
1 Number of complaints pending at the
end of previous half yearly period (a)
2 Number of complaints received during
the period (b)
3 Total number of complaints resolved
during the period (c)
4 Total number of complaints pending at
the end of the period (a+b-c) = (d)
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5 Ageing Total number of complaints
details pending for up to 21 days
of (a)
complai
Number of complaints
nts
pending from 22-90 Days
pending
(b)
at the
Number of complaints
end of
pending for more than 90
the
Days (c)
period
Total number of complaints
pending
(a+b+c)=d
6 Average Complaint resolution time
(Average complaint Resolution time is
the sum total of time taken to resolve
each complaint in days, in the
concerned half year period divided by
total number of complaints resolved in
the said half year period.)
7 Break- Inappropriateness/
up of unsuitability of advice
type of Issues Under Fixed
complai related to fee mode
nts excess fee
Under
received charged
Assets
during
under
the
Advice
period
(AUA) based
fee mode
Inadequacy/ issues related
to services
Promise of assured returns
Agreement related
complaints
Other (please specify)
Details of Clients, Assets under Advice (AUA) and Fees for the half year ended on
………………(DD/MM/YYYY)
Sr. Particulars Individual Non-Individual Total
No Reside Non FPI(C Reside Non- F (A+B+
. nt (A) - ) nt (D) Reside PI C+D+E
Res nt (E) (F +F)
ide )
nt
(B)
1 Number of clients at
the end of the previous
half yearly period (i)
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2 Number of client
agreements entered
into during the period
(ii)
3 Number of client
agreements
expired/terminated
during the period (iii)
4 Number of clients at
the end of the period
(iv = i + ii - iii)
5 Maximum number of
client agreements in
force on a single day
during the period
6 Fees Total Fees
charged under fixed
during fee mode
the (a)
period Total Fees
(in Rs.) under AUA
based fee
mode) (b)
Total Fees
collected
for
Accredited
Investors
(c)
Total Fees
(a + b + c =
d)
7 Number of clients who
have opted for AUA
based fee mode at the
end of the period
8 Number of clients who
are Accredited
Investors
9 Net Equity
Assets Debt
under
Equity
Advice
Derivatives
as at the
Mutual
end of
funds
the
Other SEBI
period
regulated
(in Rs.)
products
(for
(Please
clients
specify)
who
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have Other
opted investment
for AUA products
based under
fee purview of
mode) other
financial
sector
regulators
(Please
specify)
Total
****
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