SEBI Board Meeting: Mutual Funds Lite, New Asset Class, T+0 Settlement Updates—Key Highlights
The changes brought by the board include lowering the minimum qualification to a graduate degree, eliminating experience requirements, and replacing net-worth criteria with reduced deposit requirements.
Compliance will be eased by allowing individuals to register as both IAs and RAs, as well as permitting part-time registrations for those with other business activities. IAs will have more flexibility in fee structures, and the threshold for corporateization has been raised.
The review also clarifies that investment advice will be limited to securities regulated by SEBI, outlines responsibilities for using artificial intelligence, and provides guidelines for model portfolios.