The Securities and Exchange Board of India on 18th June 2021 has granted recognition to BSE Administration & Supervision Limited (BASL), a wholly owned subsidiary of BSE Limited for a period of three years from June 01, 2021 for administration and supervision of investment advisers.
An entity granted recognition under SEBI (Investment Advisers) Regulations 2013 shall be designated as “Investment Adviser Administration and Supervisory Body” (“IAASB”)And shall have the following responsibility.
- Supervision of IAs including both on-site and offsite
- Grievance redressal of clients and IAs
- Administrative action including issuing a warning and referring to SEBI for enforcement action
- Monitoring activities of IAs by obtaining periodical reports.
All SEBI registered IAs shall submit periodic reports to IAASB in such manner as may be specified by IAASB.
