Government to Push Ahead with Plan to Transfer SEBI's Surplus to Its Accounts

Government to push ahead with plan to transfer SEBI's surplus to its accounts. Don't provide free trials of services, SEBI tells investment advisors.

 

SEBI

Government to push ahead with plan to transfer SEBI's surplus to its accounts.

Money Switch: The government is reportedly looking to complete the transfer of 75% of market regulator SEBI's surplus to the Consolidated Fund of India before the unveiling of the upcoming Budget. Other financial sector regulators such as the Insurance Regulatory and Development Authority and the Pension Funds Regulatory and Development Authority could also be required to do so.

 

This surplus transfer plan was first revealed in the 2019 Budget, and it received some opposition from regulators on the grounds that it would hamper these institutions' independence. HT

Don't provide free trials of services, SEBI tells investment advisors.

Nothing in Life is Free: In a circular issued by SEBI, the regulator has barred Registered Investment Advisors (RIAs) from giving free trials of their services to customers or accepting part-payments for their services. It also directed RIAs to give advice after conducting risk profiling of clients. Livemint

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