Investment advisors can charge fees only for advisory, not PMS- Sebi
Securities And Exchange Board of India (Sebi) Chairperson, Madhabi Puri Buch, made a strong case for differentiating between investing advisory and money management. In her address at the Association of Registered Investment Advisers (ARIA) conference she said that 35% of the investment advisers (IAs) are unregistered in India.
All IAs registered with the Sebi are mandatorily required to obtain membership registration of the BSE Administration & Supervision (BASL), according to the BSE.
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There are close to 1,300 IAs registered with the regulator, according to the Sebi website. Close to 900 are registered with the BASL.
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Markets sees lackluster trading with sectoral variations; Here are the key levels to watch on Nifty and Bank Nifty
By Ajit Mishra
Markets traded lackluster in a range and settled with marginal cut, in continuation to the prevailing consolidation phase. After the muted start, Nifty oscillated on both sides, tracking mixed trends in the heavyweights across sectors.
Meanwhile, the sectoral moves kept the traders busy wherein pharma, energy, and realty performed well while pressure continued in FMCG and banking. The broader indices also traded mixed and midcap managed to gain nearly a percent.
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Amid the choppiness on the local front, a steady uptrend in the US markets is giving some comfort. We were eyeing 39,000 in the Dow Jones Industrial …
Life insurers slump after surrender-value shock
Shares of most life insurance companies bucked a rallying market trend on Thursday after the Insurance Regulatory and Development Authority (Irdai) sought to massively hike the surrender value on non-par insurance products from the next year.
Despite the rally in the domestic market after the dovish Fed policy, shares of life insurers, barring LIC, which rallied more than 1%, and SBI Life, which settled almost flat with a minor positive bias, declined between 1% and 4%.
Counters of private life players were battered, with Max Life’s parent Max Financial Services falling 3.1% to close at Rs 1,024.45, HDFC Life losing 1.90% to Rs685, ICICI Prudential Life shedding 1.72% toRs533 and Nippon Life AMC slipping 3.6% to close at Rs443.
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