SEBI has revised its regulations, allowing Investment Advisers (IAs) and Research Analysts (RAs) to collect advance fees for up to one year, instead of the previous limits of two quarters (IAs) and one quarter (RAs).
Under the new rules:
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IAs can now collect advance fees for up to one year, compared to the earlier limit of two quarters.
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RAs, who were previously restricted to collecting fees for only one quarter, can also extend their advance fee collection period to one year.
These revised compliance requirements regarding fee limits, payment modes, refunds, and breakage fees will only apply to individual and Hindu Undivided Family (HUF) clients.