Periodic reporting format for Investment Advisers
Summary
SEBI mandates a standardized periodic reporting format for Investment Advisers to the IAASB under Regulation 15(12) of the IA Regulations. The reports must be submitted half-yearly for periods ending March 31 and September 30, with specific timelines defined for initial and subsequent submissions. The circular establishes the applicability of this format immediately and outlines the detailed data requirements in Annexure I.
Text
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.
It is decided to specify a standardized format for periodic reporting for IAs.
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.
IAs shall submit periodic report for half-yearly periods ending on September 30 and March 31 of every financial year.
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.
IAs shall submit periodic report in the format specified in Annexure I from the half-yearly period ending on March 31, 2024.
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.
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.
This circular shall become applicable with immediate effect.
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.
Source: SecMarx — Periodic reporting format for Investment Advisers. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.