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Sebi may announce adviser guidelines soon |
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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 |
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