CIRCULAR
SEBI/HO/MIRSD/MIRSD-PoD-2/P/CIR/2023/168 October 10, 2023
To
All Registered Investment Advisers
BSE Administration & Supervision Limited
Madam / Sir,
Subject: Extension in timeline for compliance with qualification and experience
requirements under Regulation 7(1) of SEBI (Investment Advisers) Regulations, 2013
1. Regulation 7 of SEBI (Investment Advisers) Regulations, 2013, as amended vide SEBI
(Investment Advisers) (Amendment) Regulations, 2020, specifies the qualification and
experience requirements for investment advisers and provides that an individual
investment adviser or principal officer of a non-individual investment adviser registered
under these regulations and persons associated with investment advice shall comply with
the enhanced qualification and experience requirements specified in regulation 7(1) within
a period of three years, i.e., by September 30, 2023.
2. Based on the representations received from various stakeholders and in view of the
emerging landscape of the domain of investment advice, the first proviso to regulation
7(1) of SEBI (Investment Advisers) Regulations, 2013 has been amended with effect from
September 30, 2023, vide the SEBI (Investment Advisers) (Amendment) Regulations,
2023 dated October 09, 2023. Accordingly, it is now specified that the timeline to comply
with the enhanced qualification and experience requirements under regulation 7(1) is
extended to September 30, 2025.
3. BSE Administration & Supervision Limited is directed to bring the provisions of this circular
to the notice of its members and also disseminate the same on its website.
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4. This circular is issued in exercise of the powers conferred under section 11(1) of the
Securities and Exchange Board of India Act, 1992 read with regulation 7(1) SEBI
(Investment Advisers) Regulations, 2013, to protect the interests of investors in securities
and to promote the development of, and to regulate the securities market.
5. This circular is available on the SEBI website at www.sebi.gov.in under the categories
"Legal  Circulars" and "Info for  Investment Advisers".
Yours faithfully,
Srishti Ambokar
Deputy General Manager
Tel. No. 022-26449354
srishtijc@sebi.gov.in
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