sebi:WTM/AB/WRO/WRO/18769/2022-23
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Facts / Headnote
Warning issued to the Noticee that it shall not provide Investment Advisory services unless it ensures strict compliance with the Investment Advisers Regulations and applicable SEBI Circulars.
Provisions invoked
- s. 19
- s. 12(3)
Regulations
- Reg. 9
- Reg. 1
- Reg. 13(a)
- Reg. 7(2)
- Reg. 21(1)
- Reg. 28
- Reg. 24
- Reg. 27
- Reg. 15(9)
- Reg. 28(1)
- Reg. 27(4)
- Reg. 25(1)
- Reg. 28(a)
Parties
- AMIT KUMAR DEWDA PROPRIETOR, M/S AVID RESEARCH INVESTMENT ADVISER PAN: AZXPD5745P INA000003031
Holding
The Noticee was found to have violated Regulation 7(2) read with Regulation 13(a), Regulations 28(a) and (f), Regulation 21(1) read with SEBI Circular CIR/OIAE/2014, and Regulation 15(9) read with Clause 8 of the Third Schedule of the Investment Advisers Regulations, and was warned not to provide Investment Advisory services unless it ensures strict compliance with the regulations and applicable SEBI Circulars.
Full text
_____________________________________________________________________________________ Order in the matter of M/s Avid Research Investment Adviser Page 1 of 8 WTM/AB/WRO/WRO/18769/2022-23
_____________________________________________________________________________________ Order in the matter of M/s Avid Research Investment Adviser Page 2 of 8 (Level–2) Certifications from the National Institute of Securities Markets (“NISM”), in violation of Regulation 7(2) read with Regulation 13(a) of the Investment Advisers Regulations. (b) from any other organization or institution including Financial Planning Standards Board of India or any recognized stock exchange in India provided such certification is accredited by NISM: Provided that fresh certification must be obtained before expiry of the validity of the existing certification to ensure continuity in compliance with certification requirements: Provided further that fresh certification before expiry of the validity of the existing certification shall not be obtained through a CPE program.
_____________________________________________________________________________________ Order in the matter of M/s Avid Research Investment Adviser Page 3 of 8 ENQUIRY BY THE DESIGNATED AUTHORITY:
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Source: SecMarx — sebi:WTM/AB/WRO/WRO/18769/2022-23. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.