{"apiVersion":1,"release":"r-2026-09-08-012","packet":{"code":"C1HWGF","written":"C1H-WGF","title":"Circular MRD/CIR/2026/1560 of the Securities and Exchange Board of India dated 12th July, 2026 on the business of an investment adviser","status":"As at 8 September 2026. In force. No commencement recorded.","path":"/C1H-WGF","asAt":null,"sha256":"7203b900871951af4bd7d80b8be861885fb67030bd613cba9eab2c102900b24d","blocks":[{"kind":"title","segs":["Circular MRD/CIR/2026/1560 of the Securities and Exchange Board of India dated 12th July, 2026 on the business of an investment adviser [C1H-WGF]"]},{"kind":"status","segs":["As at 8 September 2026. ","In force. No commencement recorded."]},{"kind":"line","segs":["Dates: made 12 July 2026; in force not recorded; ceased none recorded. Gazette: none recorded. Band B."]},{"kind":"line","segs":["Synthetic. This instrument, its title, its number and its words are generated by the register, beneath the Act its recital names."]},{"kind":"line","segs":["Cite: Circular MRD/CIR/2026/1560 of the Securities and Exchange Board of India dated 12th July, 2026 on the business of an investment adviser, Circular MRD/CIR/2026/1560, 12th July, 2026 [C1H-WGF]. Machine: C1H-WGF."]},{"kind":"law","text":"MRD/CIR/2026/1560\nSecurities and Exchange Board of India\nMumbai, dated the 12th July, 2026\nCIRCULAR\nTo\nAll General Managers,\nSubject: The business of an investment adviser by investment advisers under the Securities and Exchange Board of India Act, 1992, regarding.\nIn exercise of the powers conferred by section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby issues the following\n1. References have been received seeking clarification on the manner in which section 9 applies to the business of an investment adviser by investment advisers.\n2. The matter has been examined. Every investment adviser carrying on the business of an investment adviser shall make an application in Form E to the Investor Protection Fund Trust within fifteen days, accompanied by a fee of twenty-five thousand rupees.\n3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the business of an investment adviser is undertaken, and the Investor Protection Fund Trust shall dispose of it within fifteen days of its receipt.\n4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Securities and Exchange Board of India.\n(Chief General Manager)","runs":[{"start":305,"end":383,"href":"/S1W-XPB","title":"Section 9, Securities and Exchange Board of India Act, 1992","kind":"citation"}]},{"kind":"heading","segs":["Made under"]},{"kind":"item","segs":["Recital: \"In exercise of the powers conferred by section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby issues the following\". ","Names ",{"text":"section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992)","href":"/S1W-XPB"}," [S1W-XPB]",". ","Vires verified."]},{"kind":"heading","segs":["Acts on (0)"]},{"kind":"item","segs":["none"]},{"kind":"heading","segs":["Acted on by (0)"]},{"kind":"item","segs":["none"]},{"kind":"heading","segs":["Not held (0)"]},{"kind":"item","segs":["none"]}],"connections":[{"title":"section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992)","path":"/S1W-XPB","relation":"power_recital","description":"Power named in the recorded recital. This link does not establish that the instrument is legally valid.","synthetic":null,"effectiveDate":null}],"connectionsTruncated":false,"synthetic":true,"source":{"synthetic":true,"textState":"held","version":{"number":1,"from":"2026-07-12","to":null,"sha256":"7203b900871951af4bd7d80b8be861885fb67030bd613cba9eab2c102900b24d","language":"eng","synthetic":true,"sourceRecord":{"title":"Circular MRD/CIR/2026/1560 of the Securities and Exchange Board of India dated 12th July, 2026 on the business of an investment adviser","code":"C1H-WGF"},"changedBy":null,"attributionNotice":"The recorded source is the containing instrument, not an identified amending instrument. Amendment attribution is not established.","note":"Generated by the register; the instrument, its title, its number and its words are synthetic.","path":"/C1H-WGF@2026-07-12"},"versions":[{"number":1,"from":"2026-07-12","to":null,"sha256":"7203b900871951af4bd7d80b8be861885fb67030bd613cba9eab2c102900b24d","language":"eng","synthetic":true,"sourceRecord":{"title":"Circular MRD/CIR/2026/1560 of the Securities and Exchange Board of India dated 12th July, 2026 on the business of an investment adviser","code":"C1H-WGF"},"changedBy":null,"attributionNotice":"The recorded source is the containing instrument, not an identified amending instrument. Amendment attribution is not established.","note":"Generated by the register; the instrument, its title, its number and its words are synthetic.","path":"/C1H-WGF@2026-07-12"}]},"particulars":[{"label":"Class","value":"Circular"},{"label":"Citation","value":"Circular MRD/CIR/2026/1560, 12th July, 2026"},{"label":"Number","value":"MRD/CIR/2026/1560"},{"label":"Authority","value":"Securities and Exchange Board of India"},{"label":"Assent","value":"Not recorded"},{"label":"Published","value":"12 July 2026"},{"label":"Gazette","value":"Not recorded"},{"label":"Jurisdiction","value":"IN"}],"jurisdiction":"IN","dates":{"made":"2026-07-12","inForce":null,"ceased":null},"changedBy":[],"quality":{"answerUse":"limited","status":"not-audited","checkedOn":null,"reason":"Stored text, not a certification of completeness, current law or personal applicability. Exact quotation matching checks wording only.","publications":[]}},"canonical":"/C1H-WGF","text":"Circular MRD/CIR/2026/1560 of the Securities and Exchange Board of India dated 12th July, 2026 on the business of an investment adviser [C1H-WGF]\nAs at 8 September 2026. In force. No commencement recorded.\nDates: made 12 July 2026; in force not recorded; ceased none recorded. Gazette: none recorded. Band B.\nSynthetic. This instrument, its title, its number and its words are generated by the register, beneath the Act its recital names.\nCite: Circular MRD/CIR/2026/1560 of the Securities and Exchange Board of India dated 12th July, 2026 on the business of an investment adviser, Circular MRD/CIR/2026/1560, 12th July, 2026 [C1H-WGF]. Machine: C1H-WGF.\nMRD/CIR/2026/1560\nSecurities and Exchange Board of India\nMumbai, dated the 12th July, 2026\nCIRCULAR\nTo\nAll General Managers,\nSubject: The business of an investment adviser by investment advisers under the Securities and Exchange Board of India Act, 1992, regarding.\nIn exercise of the powers conferred by section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby issues the following\n1. References have been received seeking clarification on the manner in which section 9 applies to the business of an investment adviser by investment advisers.\n2. The matter has been examined. Every investment adviser carrying on the business of an investment adviser shall make an application in Form E to the Investor Protection Fund Trust within fifteen days, accompanied by a fee of twenty-five thousand rupees.\n3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the business of an investment adviser is undertaken, and the Investor Protection Fund Trust shall dispose of it within fifteen days of its receipt.\n4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Securities and Exchange Board of India.\n(Chief General Manager)\nMade under\nRecital: \"In exercise of the powers conferred by section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby issues the following\". Names section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) [S1W-XPB]. Vires verified.\nActs on (0)\nnone\nActed on by (0)\nnone\nNot held (0)\nnone"}