 "sebi")
Amid growing number of registered investment advisers, markets regulator Sebi on Thursday said a wholly-owned subsidiary of a stock exchange can administer and supervise such advisers.
Besides, the regulator put in place the criteria for grant of recognition to a stock exchange's subsidiary and its responsibilities.
"Considering the growing number of registered Investment Advisers (IAs)...it is decided to recognize a wholly-owned subsidiary of the stock exchange (stock exchange subsidiary) to administer and supervise IAs registered with Sebi," the regulator said in a circular.
Under IA Regulations, Sebi can recognise any body or body corporate for the purpose of regulating IAs.
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