BSE sets up an agency (BSE Administration and Supervision Limited - BSAL) to administer and supervise activities of SEBI Registered Investment Advisors
Mumbai, June 11, 2021: BSE, India’s premier exchange and the world’s fastest Stock Exchange, has setup a wholly owned subsidiary company “BSE Administration & Supervision Ltd.” (BASL) for carrying out the administration and supervision activities of all SEBI-registered investment advisors (RIA). BASL (https://www.bseasl.com/ria/index.html) has received recognition from the Securities and Exchange Board of India (SEBI) to administer and supervise Investment Advisors (IAs) registered with SEBI and will commence its operation from June 1, 2021.
All existing SEBI registered IAs and new applicants desirous of obtaining registration as Investment Advisor will be required to register with BASL as a member. The administration and supervision of BASL members will be accordance with SEBI Regulations and circulars, and Byelaws and circulars / guidelines issued by BASL from time to time.
Shri. Ashishkumar Chauhan, MD & CEO of BSE said, "We thank SEBI for reposing its faith in BSE to administer and supervise Investment Advisors. Investment Advisory has become a key segment for capital market investors. Advisory services have also evolved from personalised services to sophisticated robo advisory with the use of technology. The long experience of BSE for over 146 years as a frontline Regulator will help in ensuring that BASL will maintain highest standards of governance and practices. This is an important step by SEBI to enhance the investor faith in the capital markets.”
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
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