SEBI has amended the regulations governing research analysts and investment advisors. The Board may recognize a body or body corporate for the purpose of administration and supervision of investment advisers and research analysts to such extent and on such terms and conditions as may be specified by the Board.
The Board may specify that no person shall act as an investment adviser unless such a person is enlisted with the recognized body or body corporate and in such an event, the provisions of these regulations and the specified provisions of the bye-laws or articles of such a body or body corporate shall apply to the investment adviser.
