• Upasana Mondal

Applying for SEBI Registered Investment Advior


Are you looking for information on application to SEBI for Registered Investment Advisor?

Financial Planners/Advisors who would like to primarily focus on financial planning for individuals have to be registered with SEBI as per their regulations as stated below. All requirements have been detailed in the link below.

SEBI (Investment Advisors) Regulations 2013 [Last amended on December 8 2016] : https://www.sebi.gov.in/legal/regulations/jan-2013/sebi-investment-advisers-regulations-2013-last-amended-on-december-08-2016-_34619.html

Frequently Asked Questions: https://www.sebi.gov.in/sebi_data/attachdocs/1424862077270.pdf

If you have all the required qualifications and documents. You get to the registration process. Here’s the information that I have struggled to find:

Step 1:

You need to create a login ID on the SEBI Intermediary portal. Here’s the link:

https://siportal.sebi.gov.in/intermediary/index.html

· Go to Self Registration and fill in all the basic details like Name, address etc. of the applicant.

· Fill in the payment details. You can do an NEFT (this is what I did) online through your bank’s website. Details of receiving account are given on this page like account number and IFSC code.

Application amount depends on whether you are an individual/partnership firm or body corporate/limited liability partnership firm.

· After you submit the information, you will receive a mail with login details and activation link.

There is a User guide available on the home page that has the above login process in detail with screenshots. This is quite helpful.


Step 2:

Go to Registration Login and complete your application details in the Form A. This step is quite detailed so go through the Form A mentioned in the regulations link above and keep all documents handy. You can fill in details and save each section separately if you are unable to fill it at once like me.

Note: It took me a few days to fill it however if you keep the following information handy you can do it in one go:

· You need to get a Networth Certificate, not more than 6 months old from a CA.

· You need to have self certified copies of your education and experience certificates. Sign all the copies and scan and upload them.

· CIBIL Score report. Can be obtained from the CIBIL website https://www.cibil.com/

· ITR copies of last 3 years/Form 16.

· CFP or NISM certificate copies.

· Address and Identity proof copies

· PAN Card true copy

Also note:

· You can upload only one pdf per field. For example, I have 2 experience letters so I had to join them and upload as one pdf.

· You must upload all documents in pdf format not more than 2mb each. I had to reduce their sizes by using an online pdf convertor like https://pdfcompressor.com/, https://www.ilovepdf.com/compress_pdf (I used this one), https://smallpdf.com/compress-pdf or any other available online.

· Your comments should not have extra spacing, special characters etc. which will hang the form and log you out. It should be in one single paragraph.

· All Infrastructure details must be mandatorily filled. Select each one of them and answer accordingly.

· You need 3 separate declarations that are signed and uploaded.


Step 3:

After you submit you will receive an auto generated mail from SEBI with your application attached. Sign and send it to the local SEBI office.

List of SEBI offices can be found here:

https://www.sebi.gov.in/contact-us.html#contact-us-main


You will receive intimation from SEBI if there are further requirements or to submit the registration fees to grant the registration certificate.

If you have queries related to the above article, please feel free to ask and I would be happy to help.

This information is based on personal experience of new registration as an advisor and you are requested to contact SEBI for any specific query related to registration if you are a body corporate, partnership firm or any other type of organisation.

Happy Planning!

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