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Sebi may announce adviser guidelines soon

 

Has the capital markets regulator, Securities and Exchange Board of India (Sebi), issued the draft guidelines to govern investment advisers or not? In September, an independent financial adviser put up a copy of what looked like draft investment adviser (IA) guidelines on his website and claimed to have a copy of the “leaked” document. When we asked a senior Sebi official whether that was, in fact, a copy of the IA guidelines, Sebi distanced itself from the leak episode.
However, a closer look at the agenda of the Sebi board meet held on 16 August on Sebi’s website (see it here, http://www.sebi.gov.in/sebiweb/meeting/boardmeetings.jsp) reveals that the draft IA guidelines was, in fact, prepared by Sebi; a document that now lies with the Sebi board for consideration. Also, what appears to be a first-cut decision has been put on Sebi’s website next to the draft IA