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BSE set up Entity ‘BASL’ to Administer, Supervise Activities of SEBI-RIA

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BSE sets up an agency to administer, superviseBombay Stock Exchange (BSE), Asia’s 1st & the world’s fastest Stock Exchange, has set up its wholly-owned subsidiary company named – ‘BSE Administration & Supervision Ltd (BASL)’ for carrying out the administration and supervision activities of all SEBI (Securities and Exchange Board of India)- Registered Investment Advisors (RIA).

  • BASL has received recognition from SEBI to administer and supervise investment advisors (IAs) registered with SEBI.
  • All existing SEBI-registered IAs and new applicants desirous of obtaining registration as investment advisor will be required to register with BASL as a member.
  • BASL members will be supervised and administered in accordance with the capital markets regulator SEBI’s rules.

About RIA:

i.IA is a person or an organization that gives investment advice to individuals. RIA are the IAs registered with SEBI, which will provide the investment advice as per the SEBI’s RIA regulations. Investment advisory has become a key segment for capital market investors.

ii.SEBI Investment Advisers Regulation, 2013 regulates IA in India. If the number of clients exceeds 150 members, then it is mandatory for an advisor to register with SEBI

iii.Capital Requirements to be an RIA:

  • Individual – Rs 5 lakhs
  • A partnership firm – Rs 50 lakhs
  • Companies, body corporate and LLPs – Rs 50 lakhs

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Bombay Stock Exchange(BSE) has signed a memorandum of understanding (MoU) with Dun & Bradstreet Information Services India to create an ecosystem for promoting, aiding and fostering the growth of Small and Medium Enterprises(SME).

About Bombay Stock Exchange (BSE):

Establishment – 1875
Headquarters – Mumbai, Maharashtra
Chairman – Justice Vikramajit Sen
MD & CEO – Ashishkumar Chauhan