Sebi Eases Qualification Norms for Investment Advisers and Research Analysts

Sebi has revised educational criteria for Investment Advisers and Research Analysts, allowing graduates from any field to apply. Passing the NISM certification remains mandatory. Once an adviser has over 300 clients or Rs 3 crore in fees, they must transition to a corporate structure within a specified timeline.

The Securities and Exchange Board of India (Sebi) has liberalized the educational criteria for Investment Advisers (IAs) and Research Analysts (RAs), paving the way for graduates from any discipline to pursue registration. Previously, eligibility was confined to those with finance-related degrees.

Despite this relaxation, passing the NISM certification exam is still compulsory to ensure applicants possess adequate domain knowledge and professional readiness. This change, detailed in two separate notifications, aims to broaden the pool of qualified candidates.

Sebi also updated rules for individual IAs, requiring a corporate transition when exceeding 300 clients or Rs 3 crore in fees. The transition period allows advisors to continue client onboarding and fee collection, mitigating disruption as they move to a corporate structure.