compliance simplified

Framework for membership of registered investment advisers with  BSE  Administration & Supervision Ltd. (BASL).

Notice No.       :  20210621-01                                   

Notice Dated  :  21/06/2021 

Sub.  :   Framework for membership of registered investment advisers with  BSE  Administration & Supervision Ltd. (BASL). 

In continuation to circular no. 20210618-01 dated June 18, 2021 issued by BSE Administration & Supervision Ltd. (BASL) on captioned subject, new applicants desirous of obtaining registration as Investment Adviser shall follow the below standard operating process for obtaining BASL membership  :

 

(a) A new applicant intending to register as an Investment Adviser will first approach BASL and submit the membership application in prescribed format as per Annexure I, alongwith the relevant documents. The application for membership to BASL needs to be submitted on email membership@bseasl.com.

(b) Based on the membership application and fulfilment of BASL specified norms for membership as an Investment Adviser, BASL will issue a membership certificate to the applicants.

(c) The new applicant based on BASL membership certificate will approach SEBI and submit its application for registration as an Investment Adviser and comply with the norms, criteria and requirements prescribed by SEBI from time to time. The application for registration  to SEBI need to be submitted vide the SEBI Intermediary (SI) portal https://siportal.sebi.gov.in  

(d) Based on fulfilment of SEBI specified norms for registration as an Investment Adviser, SEBI will inform the said new applicant to fulfil payment of relevant fees to BASL. On payment of relevant fees to BASL, SEBI will issue its certificate of registration to concerned Investment Adviser and share the registration details with BASL.

(e) The tenure of BASL membership for new applicant Investment Advisers will be as decided by BASL and need to be renewed by the investment adviser as per norms specified from time to time. The process for submission of renewal application to BASL should be carried out atleast three months before the expiry of the validity period of the certificate of BASL membership and completed prior to expiry of the tenure to keep the membership in force.

 

All other guidelines / provisions as mentioned in aforesaid BASL circular No. 20210618-01 dated June 18, 2021 remain unchanged. 

 

For further details, Investment Advisers  are advised to visit BASL website https:/www.bseasl.com.