SEBI has issued directions regarding Annual Compliance Certificate for Client Level Segregation by non- individual Investment Advisers and timeline for submission of periodic reports and annual Compliance Certificate for Client Level Segregation by non-individual Investment Advisers
As a step towards ease of doing business and in terms of recommendation of the working group for review of compliance requirements for Investment Advisers and Research Analysts, as in case of an individual IA, it has been decided to allow a non-individual IA to obtain annual compliance certificate from any auditor in respect IAs shall maintain on record an annual certificate from an auditor confirming compliance with the client level segregation requirements. Such annual certificate shall be obtained within 6 months of the end of the financial year and form part of compliance audit.
