ARTICLE
16 November 2023

Legalaxy - November, 2023

VA
Vaish Associates Advocates
Contributor
Established in 1971, Vaish Associates, Advocates is one of the best-known full-service law firms in India. Since its inception, it continues to serve a diverse clientele, including domestic and overseas corporations, multinational companies and individuals. Presently, the Firm has its operations in Delhi, Mumbai and Bengaluru.
SEBI extends the deadline for complying with enhanced investment adviser qualification by 2 years.
India Corporate/Commercial Law
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INDEX

  • SEBI extends the deadline for complying with enhanced investment adviser qualification by 2 years
  • SEBI revises the manner of achieving minimum public unitholding requirement for InvITs
  • SEBI redefines large corporate and the fund-raising norms in view of ease of doing business
  • SEBI provides limited relaxation under SEBI LODR from sending hard copies of financial statements and proxy forms till September 30, 2024
  • RBI notifies the Master Directions on Non-Banking Financial Company – Scale Based Regulations
  • RBI introduces regulations applicable to Payment Aggregators facilitating cross border payment transactions
  • RBI enumerates on the importance of appointment of 2 whole-time directors
  • Prevention of Money-laundering (Maintenance of Records) Rules, 2005 amended by MoF
  • MCA tweaks rules for dematerialisation of securities under Companies Act - makes it mandatory for private companies
  • MCA tightens the beneficial interest rules under Companies Act - makes it mandatory for every company to designate a person in this regard
  • MCA mandates disclosure of beneficial interest in LLP
  • The wait is over: public companies can now list their securities on permitted foreign stock exchanges
  • MCA provides comfort for shifting of registered office of company from one State/Union Territory to another post resolution under IBC
  • One more step towards ease of doing business – MCA integrated with NSWS for incorporation of companies and LLPs
  • MOEFCC notifies the Battery Waste Management (Amendment) Rules, 2023
  • Ecomark Rules notified by MOEFCC
  • Green Rules notified by MOEFCC
  • MOEFCC notifies the Plastic Waste Management (Second Amendment) Rules, 2023
  • Central Government notifies the establishment of Arbitration Council of India
  • MLJ notifies October 9, 2023, as the effective date for coming into force of certain provisions of The Mediation Act
  • A big relief to the aviation industry from the rigor of Moratorium under IBC
  • MCAFPD notifies the Legal Metrology (Packaged Commodities) Amendment Rules, 2023
  • EPFO releases SOP for management and regulation of exempted establishment under EPF Act

SEBI EXTENDS THE DEADLINE FOR COMPLYING WITH ENHANCED INVESTMENT ADVISER QUALIFICATION BY 2 YEARS

Securities Exchange Board of India ("SEBI"), vide its circular dated October 10, 2023, has extended the deadline for compliance with enhanced qualification and experience requirements for investment advisers to September 30, 2025.

Regulation 7 of SEBI (Investment Advisers) Regulations, 2013, as amended in the year 2020, outlines the qualification and experience requirements for investment advisers. Presently, the said regulation mandates an individual investment adviser or principal officer of a non-individual investment adviser and persons associated with investment advice ("Investment Advisers") to comply with enhanced qualification and experience requirements by September 30, 2023.

Based on considerations and representations received from various stakeholders and in view of the emerging landscape of the domain of investment advice, SEBI, through this circular has specified that the timeline for Investment Advisers to comply with the enhanced qualification and experience requirements is pushed to September 30, 2025.

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ARTICLE
16 November 2023

Legalaxy - November, 2023

India Corporate/Commercial Law
Contributor
Established in 1971, Vaish Associates, Advocates is one of the best-known full-service law firms in India. Since its inception, it continues to serve a diverse clientele, including domestic and overseas corporations, multinational companies and individuals. Presently, the Firm has its operations in Delhi, Mumbai and Bengaluru.
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