SEBI notified amendments to investment adviser norms
Mumbai: To begin with, SEBI had notified the investment adviser regulations making it more effective from Sept 30, 2020.
Earlier, in February, the market regulator had made amendments proposing the separation of advisory and distribution activities. However, as of now, investment advisers might provide advice and distribute financial products to the clients.
On the other side, the fee charged by the investment adviser for providing investment advice would remain specified by SEBI.
Besides, it has improved the eligibility criteria for registration as an investment adviser. So then, this includes a net worth of Rs. 50 lakhs for non-individuals and Rs. 5 lakhs for individuals.
July 3rd Stock Market Details:
On July 3rd, both the Sensex and the Nifty had traded with a bullish trend in the stock market. The Sensex traded with a profit of 152.88 points and reached 35,994.25 levels with a 0.42% gain. On the other side, the Nifty traded high with 49.90 points at 10,599.60 level with a 0.47% gain.
Besides, as of July 5th, the number of confirmed COVID-19 cases across India has reached 6,73,165. Also, the number of deaths in the country has reached 19,268.
In the border market yesterday, the S&P BSE Midcap index gained 98.78 points with a 0.75% rise and reached a 13,314.52 level. Also, the S&P BSE Smallcap index gained 75.17 points with a 0.60% rise and reached a 12,618.51 level. At the same time, the Nifty Bank lost 96.00 points with a 0.44% fall and reached 21,848.40 level.