Securities and Exchange Board of India

15.06.2023

Capital Market

Master Circular for Investment Advisers

MANU/SMIS/0044/2023

1. Securities and Exchange Board of India (SEBI), from time to time, has been issuing various circulars/directions to Investment Advisers (IAs). In order to enable users to have access to the applicable circulars at one place, this Master Circular in respect of IAs is being issued.

2. The Master Circular is a compilation of all the existing/ applicable circulars issued by SEBI pertaining to IAs.

3. The list of SEBI circulars compiled in this Master Circular is given in Appendix at the end of this Master Circular. From the date of issuance of this Master Circular, the circulars mentioned in Appendix shall stand rescinded to the extent applicable to IAs.

4. Notwithstanding such rescission,

a) Anything done or any action taken or purported to have been done or taken under the rescinded circulars, prior to such rescission, shall be deemed to have been done or taken under the corresponding provisions of this Master Circular;

b) Any application made to the Board under the rescinded circulars, prior to such rescission, and pending before it shall be deemed to have been made under the corresponding provisions of this Master Circular;

c) The previous operation of the rescinded circulars or anything duly done or suffered thereunder, any right, privilege, obligation or liability acquired, accrued or incurred under the rescinded circulars, any penalty, incurred in respect of any violation committed against the rescinded circulars, or any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty as aforesaid, shall remain unaffected as if the rescinded circulars have never been rescinded.

5. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Tags : Master Circular Issuance Investment Advisers

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