Can an AP become a SEBI Registered Research Analyst and offer both advisory and broking services?
Yes, an AP can become a SEBI-registered Research Analyst (RA) and provide both advisory and broking services. However, strict segregation and demarcation between advisory and broking activities are mandatory. Client mingling between RA/RIA and broking or execution services is not permitted as per SEBI regulations.
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Must AP inspections be done only at the registered location?
Yes. AP's are to be inspected at registered location only. If any change in location, prior approval from IIFL is mandatory
What are SEBI Charges ?
The SEBI turnover fee is the charge levied by the capital market regulator, Securities and Exchange Board of India, to cover the expenses it has incurred in carrying out its duties. A constant fee of ₹5 per crore of turnover or transaction value is ...
Can you please repeat the display requirements for the AP office?
Yes. The following boards and documents must be prominently displayed on the walls of the AP’s office and must be of permanent nature: 1. IIFL Notice Boards for NSE, BSE, MCX, and NCDEX. 2. IIFL SEBI Registration Certificate. 3. SEBI Investor ...
As an AP, can we charge fees for ITR filing and related services provided to customers?
Yes, you can charge fees for these additional services. However, you must ensure that: The fee amount is reasonable, Such services are not your primary business, and You are prepared to justify these charges if queried by the auditor.
What is the frequency of audit for an AP (Authorised Person)?
The standard audit frequency for all APs is once every 2 years. However, an annual audit becomes mandatory if the AP meets any of the following criteria: 1. Falls within the top 50% of registered APs or branches based on turnover from the previous ...