The BSE establishes an entity to manage and supervise the activities of registered investment advisers

Business
The BSE establishes an entity to manage and supervise the activities of registered investment advisers


NEW DELHI: Leading Stock Exchange EEB it said on Friday that it has created a wholly owned subsidiary company, BASL, to carry out the management and oversight activities of all investment advisers registered with Sebi.
The company, BSE Administration & Supervision Ltd (BASL), has received the recognition of Sebi to manage and supervise investment advisers (AI) registered with the regulator, and began operating on June 1, the exchange said in a statement.
All existing RAs registered with Sebi and new applicants who wish to obtain registration as an investment advisor will need to register with BASL as members.
The administration and supervision of BASL members will be carried out in accordance with the rules of the capital markets regulator Sebi.
Managing Director and CEO of EEB Ashishkumar Chauhan He said: “We thank Sebi for putting his faith in EEB to manage and oversee investment advisers. Investment advice has become a key segment for capital market investors.”
He added that advisory services have also evolved from personalized services to sophisticated robo advisory with the use of technology.
The BSE’s long experience of more than 146 years as a front-line regulator will help ensure that BASL will uphold the highest standards of governance and practices, Chauhan said.
This is an important step by Sebi to enhance investors’ faith in the capital markets, he added.

.



Source link