Periodic reporting format for Investment Advisers

CIRCULAR

SEBI/HO/MIRSD/MIRSD-PoD-2/P/CIR/2024/38 May 07, 2024

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.

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 sebi.gov.in under the categories “Legal > Circulars”, “Info For > Investment Advisers”.

Yours faithfully,

Aradhana Verma

General Manager

Tel. No: 022-26449633 E-mail: [email protected]

Annexure 1

Periodic Reporting Format for Investment Advisers

	General details of Investment Adviser (IA) for the half year ended on
	………………(DD/MM/YYYY)
Sr. No.	Particulars		Details
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 Social Media handles as an IA (provide details for all such platforms)		Facebook	Twitter	Others (Please specify)
		Social Media Type (e.g. Facebook, Twitter, Linkedin, etc.)
		Name of Account /Page/Channel, etc.
16	Details of bank account/s for receiving advisory fees (provide details of all such bank accounts)		Bank	Bank	Bank
			Account-1	Account-2	Account3
		Name as per Bank Account
		Account No.
		Type of account
		IFSC Code
		Bank Name
		Bank Branch Name
17	Details of Contact Person	Name
		Date of Birth (DD/MM/YYYY)
		Mobile
		Email id
18		Name
	Details of Compliance Officer	Date of Birth (DD/MM/YYYY)
		Mobile
		Email id
19	Details of Principal Officer (PO)	Name
		Date of Birth
		(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 Managing	Name
	Director	PAN
		Date of Birth
		(DD/MM/YYYY)
		DIN
		Mobile
		Email id
21	Details of other directors (List of directors)				Director-1
		Name
		PAN
		Date of Birth
		(DD/MM/YYYY)
		DIN
22	Shareholding Pattern (provide details of shareholders having a holding of 10% or more)				Sharehold er-1
					Sharehold er-1
		Name of shareholder
		Number of shares
		% of shareholding
23	Total number of Persons Associated with Investment Advice (PAIA) (does not include individual IA or principal officer of non-individual IA) NISM
24	NISM certification details (provide details of all such persons)	Please specify for each person whether the person is IA/PAIA/PO
		Name			Person-1
		Email ID
		Date of Birth (DD/MM/YYYY)
		PAN
		Validity of Certific ate	NISM – X A	From (DD/MM/YYYY)


				To (DD/MM/YYYY)


			NISM – XB	From (DD/MM/YYYY)
				To (DD/MM/YYYY)
25	Details of last inspection	Inspection carried out by: (SEBI/IAASB)
		Date of last inspection (DD/MM/YY)
		Period of Inspection
		Any adverse remarks of inspection
		Remedial steps taken to address adverse remarks
26	Details of advertisements issued	Number of Advertisements issued during the half year period
		Number of Advertisements approved by IAASB during the half year period
27	Publishing of Complaints and Investor Charter	Whether complaints data have been updated on the website of the IA or in 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)