Background

On June 15, 2023, Securities and Exchange Board of India [“SEBI”] had released— (i) Master Circular for Investment Advisers; and (ii) Master Circular for Research Analysts.

The Master Circulars serve as comprehensive compilations of all directions issued by SEBI pertaining to Investment Advisers [“IAs”] and Research Analysts [“RAs“]. SEBI’s Master Circulars for IAs and RAs aim to provide easy access to relevant guidelines and promote compliance among IAs and RAs.Continue Reading FIG Paper No. 22: Decoding SEBI’s Master Circular for Investment Advisers and Research Analysts