CIBIL report for Sebi nod to investors
- Sreesanth, Jiju Janardhan lived in independently booked rooms: Cops
- India to convey concerns over Ladakh incursion to Chinese Premier
- IPL 2013 LIVE SCORE: Maxwell falls early in stiff run-chase
- Narendra Modi: India losing sheen as agricultural nation
- Rajapaksa slams Tamil diaspora for lack of support in reconciliation process
Investment advisers will need to have a good credit report card and satisfactory research capacity to get permission to provide advise to investors in stocks and other capital market segments.
Market regulator Sebi (Securities and Exchange Board of India) recently decided to frame exclusive regulations for Investment Advisers, after consulting other regulators like RBI, IRDA and PFRDA, as also the comments received from the public on a concept paper disseminated for this purpose.
After deliberations over the proposed rules at the Sebi board, it was felt that the regulations need to robust enough to safeguard the interest of investors in the capital markets, a senior official said.
Accordingly, a number of changes were suggested by the board to the draft regulations proposed by Sebi, including the requirement of a credit report or score from CIBIL, and details of the research facility to be submitted by the entities seeking to become investment advisers, he added.
While the draft regulations were presented before Sebi board in August, the final regulations would be notified soon after incorporating the proposed changes.
Also, the new regulations, which make it mandatory for investment advisers to get registered with Sebi subject to certain exceptions, would now come into force three months after their notification.
Sebi had previously proposed the regulations to become effective from the date of their notification.
Among the proposed changes, the investment advisers in their applications would be required to submit a credit report / score from the Credit Information Bureau (India) Ltd, instead of references from two bankers needed in the original draft regulations.
CIBIL is a national agency that collects and maintains records of an individual's payments pertaining to loans and credit cards.
This information is used to create Credit Information Reports (CIR) and credit scores which are provided to lenders and other entities to help them evaluate the credit profile of the person.
- Destitute, orphan students outclass rest in Andhra Class 10 exams
- To re-energise ties, PM wants to visit US, waits for confirmation
- NIA court says no terror link, frees 'Hizbul militant' Liyaqat on bail
- CBI arrests its coal allotments investigator on bribery charge
- ‘Cricketer-bookie Amit may have used Jiju to reach Sree’
- BCCI chief N Srinivasan says police must prove spot-fixing allegations