Securities and Exchange Board of India

Ů Ŋ Ŋ Securities and Exchange Board of India CIRCULAR SEBI/HO/MIRSD/MIRSD-POD-1/P/CIR/2024/101 July 12, 2024 All Registered Investment Advisers All Registered Research Analysts BSE Limited (BSE) BSE Administration & Supervision Limited (BASL) Dear Sir/Madam, Subject: Recognition of BSE Limited as Research Analyst Administration and Supervisory Body (RAASB) and Investment Adviser Administration and Supervisory Body (IAASB) In pursuance of SEBI circular no. SEBI/HO/MIRSD/MIRSD-SEC-3/P/CIR/2024/34, dated May 2, 2024, BSE Limited 1 , has been granted recognition under Regulation 14 of the 'RA Regulations' 2 and 'IA Regulations' 3 for administration and supervision of Research Analysts ('RAs') and Investment Advisers ('IAs') respectively as RAASB4 and IAASB5 for a period of five years starting from July 25, 2024. Formulation of bye-laws, SOPs, FAQs etc. by RAASB/IAASB BSE shall formulate bye-laws with respect to its activities as RAASB and IAASB and shall issue circulars, Standard Operating Procedures (SOPs), Frequently Asked Questions (FAQs), etc. to provide guidance and ensure smooth adoption of the RAASB and IAASB framework by RAs and IAs. Administrative fees payable to RAASB/IAASB Applicants seeking registration/renewal as RA/IA shall be liable to pay administrative fees, as specified by RAASB/IAASB. 1 Under Regulation 38A of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 2 RA Regulations- SEBI (Research Analysts) Regulations, 2014 3 IA Regulations- SEBI (Investment Advisers) Regulations, 2013 4 RAASB- Research Analyst Administration and Supervisory Body 5 IAASB- Investment Adviser Administration and Supervisory Body Ů Ŋ Ŋ Securities and Exchange Board of India The fees payable to SEBI by RAs/applicants seeking registr

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