BSE arm gets recognition to oversee IAs

New Delhi: Capital markets regulator Sebi on Monday said it has granted approval to BSE Administration and Supervision (BASL) for carrying out administration and supervision activities of investment advisers (IAs).

Sebi has granted recognition for three years from June 1, 2021 and the renewal will be subject to satisfactory performance by BASL, which is a subsidiary of stock exchange BSE, the regulator said.

All existing Sebi-registered investment advisers (IA) will be required to seek membership of BASL and the new applicants are required to obtain membership before applying for registration with the regulator.