SEBI-Registered Investment Advisers: Shrinking Numbers
Why in the news
The count of fee-based, conflict-free advisers registered with SEBI shrank sharply.
About RIAs
- Professionals or firms giving personalised advice on securities, portfolios and planning; registration is mandatory for paid advice and SEBI keeps a public registry.
- Fiduciary duty: act in clients’ interest and disclose conflicts.
- Types: individual and corporate advisers.
Concerns
| Area | Problem |
|---|---|
| Registration | SEBI registration plus BASL membership (BSE subsidiary) |
| Compliance | PMLA/KYC updates, record-keeping, marketing approvals |
| Delays | Slow applications and renewals stall onboarding |
| Resources | Small RIAs lack funds or staff |
| Relief | CIBIL reports, address proof and net worth statements dropped; gaps remain |
Exam angle
- Count now: 962; supervisor: BASL.