(T.E.T)
Capital markets regulator Sebi on Tuesday came out with framework pertaining to fees for investment advisory services for accredited investors. Also, the regulator put in place guidelines on exit load charges applicable to the client of the portfolio manager.
The Securities and Exchange Board of India (Sebi) in August introduced the concept of “accredited investor” in investment advisers (IA) and portfolio managers rules.
Under Sebi’s rule, a person or entity is identified as an accredited investor on the basis of net worth or income.
Individuals, HUFs, family trusts, sole proprietorships, partnership firms, trusts and body corporates can get accreditation based on financial parameters specified by the regulator, Subsidiaries of depositories and stock exchanges can issue an accreditation certificate to such investors.
