SEBI (Investment Advisers) Regulations, 2013 were introduced by SEBI on January 21, 2013 and were made effective from April 21, 2013.
It has been 5 years and there are 1093 registered investment advisers as on January 3, 2019.
Earlier, as per the regulations, the certificate of registration for Investment Advisers was valid for five years from the date of issue.
SEBI on December 18, 2016 published SEBI (Change in Conditions of Registration of Certain Intermediaries) (Amendment) Regulations, 2016.
As per the amended Regulations, the registration for Investment Advisers and various other intermediaries is “till it is suspended or cancelled by the Board” instead of for 5 years only.
This means that Investment Advisers have been granted permanent registration by SEBI subject to payment of fees.
Read more: Investment Advisers get permanent SEBI registration!
The first set of RIAs who got their registration in 2013 itself, are due for renewal.
The important point to note is that the renewal has to be done within 3 months of the expiry of your current registration.
So, how do you renew your registration?
The good news is that submission of application for renewal of registration has been done away with.
All that you need to so is to pay your renewal fees and inform SEBI about the same.
Here is the quick procedure to renew SEBI Investment Adviser Registration.
#1 – Login to portal and pay fee
- Access your login on the SI portal of SEBI
- Go to the renewal option.
- Pay renewal fees through NEFT / RTGS / Demand Draft
- Enter your payment details
SEBI has slashed renewal fee for RIAs.
The following is the schedule for fees effective from April 1, 2021:
#2 – Communication with SEBI
You can inform SEBI through an email or by sending a letter to SEBI informing about payment of fees for renewal of registration.
You also have to surrender the original certificate of registration. The certificate has to be sent to SEBI’s regional office near you.
#3 – Issue of new certificate
Once SEBI confirms receipt of renewal fees and the certificate, it will issue a fresh certificate to you.
Remember, you have to renew your registration within 3 months before the expiry of the due date. In other words renewal fees should be paid within that period.
Hi, I have not used my RIA license since 2016, nor I have registered with BASL. I haven’t paid renewal fees or done any required compliances under the regulation. Is my license suspended/ terminated. If yes, then how can I get my inactive license renewed or reactive?
Hi Sarthak, to keep the registration in force, you need to make the payment of renewal fee. I suggest you get in touch with BSEASL team to know the process. You can write to bseasl.admin@bseasl.com.
Hi Kruti. I am a Registered Investment Advisor. My membership is till perpetuity. My NISM XA and XB certifications were due on 01/04/2022. If I don’t give my examinations, does my RIA licence get cancelled?
Hi Shefali, non-renewal of NISM certification will result in non-compliance of the IA regulations. It is one of the eligible criteria to be fulfilled. In my view, though the RIA license will not get cancelled, you will not be able to service clients unless you have a valid NISM certification.
Hi. We have received email from BSEASL to pay Annual Fees for SEBI RIA. So now do we need to pay to SEBI For registration charges for renewal? Mine is due in june 2022. So can i renew now or do I need to renew in month of June 2022
Hi. You have to pay fees to SEBI as well as BASL (in case you have not paid the initial membership fee). You can pay the fee online, within 3 months prior to the renewal date.
Mam thx for sharing valuable article, I have two question
1.When I am going to portal it is showing renewal fee for individual as 5000 and not 1000 as mentioned by you in article
2. As per my understanding from article now after making payment certificate will be automatically renew
Hi Anuj, you need to get in touch with the SEBI’s portal help team for this (portalhelp@sebi.gov.in). Also mark an email to Mr. Abhishek Pandya and Mr. Sarika Kataria. Here is the link for contact details – https://www.sebi.gov.in/sebiweb/home/directory-of-sebi.jsp
Hi Ma’am, can you please confirm whether any FORM is required to be filed for renewal of Certificate of Registration of an Investment Advisor
Hi Yashvi, no form needs to be submitted for renewal.
I want to know how much time required to take corporate license of IA after surrendering propertrship IA license ?
Depending on the local / regional office – anything between 3 months to 7 months is my experience.
Hi Ma’am,
First of all, thank you for fhis informative and detailed article.
A query,
If the registration is valid upto April 2021, that means it’s due for renewal?
Also, if the above answer is yes, upon renewal, the adviser who was earlier a proprietor (individual!) now wishes for incorporate a company and renew theraftef, what is the way out.
Thanking you in advance
Hi Akash, you have to pay renewal fee to keep your registration valid. If you want to register your company, it will be treated as a separate application.
Hello Mam
Actually we missed the Due date can we still file the same under the head renewal after expiry available on the portal. Thanks in advance
Hi Sukhjit, pls speak to the officer at SEBI’s regional office near you. They will guide you.
Hi Kruti,
For the new entities registering, the validity of the certificate is perpetual, so there is technically no renewal to be done. In such a case, is the new entity still needs to pay the renewal fee after completion of 5 years.
Hi Sachin, yes you need to pay for renewal of registration.
Hello mam,
What is the procedure and formalities for surrender of Investment Adviser Certificate ?
Hi Nitesh, probably you can write a letter to SEBI’s regional office near you that you want to surrender the registration certificate along with the original certificate. I would suggest you speak to SEBI’s regional office near you.
Our registration validity ends on 16/4/2019. After reading your article, i logged in to the SI portal and clicked Renewal of Registration link. I got a message “Renewal of Registration cannot be applied after Registration End Date, Please Contact SEBI for more Details”. In your article it was mentioned that the fees has to be paid within 3 months before the expiry of validity. What should we do now?
Hi Sanjeev, pls get in touch with SEBI’s portal help team at 022 26449364. They will guide you. Alternatively pls get in touch with SEBI’s regional office near you.
I forgot my login id as SEBI RIA. How could I retireve it.
Hi Suresh. Your login id must be 6 digit number starting with number 5. Pls check any email you receive from SEBI. Else you can get in touch with the portal help team.
Hi, Please clarify two doubts: (1) for Pvt Ltd the applicable renewal fees is Rs 5 Lakhs and (b) Does original Registration Certificate has to be submitted back to SEBI and they will dispatch new certificate. Thanks in advance
Hi Harminder, my answer to both your queries is YES. You can submit the certificate to SEBI’s regional office near you.
Oh! On re-reading your article and the regulations, I realise it’s about the 3 months window before the expiry of registration that I seem to have wrongly interpreted, and so missed the deadline.
I hope the matter will be considered favourably by SEBI. I shall reach out to them.
Thx,
You can check the validity date on the registration certificate issued by SEBI. Yes, they should consider. Which city are you based?
Hi Kruti, very good effort on an informative and useful blog.
If you could assist with my query –
I am trying to pay online may renewal fees for RIA on the SI Portal (renewal fee due date is 25/12/2018).
However when I go to the link Registration Activity>Renewal of Registration and confirm to proceed, there is a pop-up which says “Renewal of Registration cannot be applied after Registration End date. Pls contact SEBI” , even though my Registration End date is 25/12/2018.
Actually, after SEBI made RIA registration perpetual, it seems they have reset the End date which now shows some funny format 03/06/0006. So i feel there may be some bug due to this.
I will try to reach out to Sebi, but thought it better to check if you or any of your clients may have faced a similar situation.
Much thanks in anticipation of your reply,
Ajit
Thanks Ajit. You will have to get in touch with the portal help people. This is a technical issue in almost all cases.
Hi mam I have a query can a group of people provide research based calls on Intraday day trading in WhatsApp or telegram? Without research analys? If yes how? If no why? And if he has one person who has certificate can he?
Hi Vishal. First of all, any person or entity who is giving trading calls through Whatsapp or other app needs to get registered with SEBI either as an Investment Adviser or Research analyst. In your query not sure what a group of people mean. There needs to be a structure like a partnership firm / company/ LLP and not group. Once the entity is formed, that entity has to get registered with SEBI. If you can provide more details it will be helpful.
What if on SEBI’s website my validity says May 31, 2016 – Perpetual?
Hi, although your registration is perpetual, you need to may renewal fees every 5 years. Would request you to refer to my article – https://cskruti.com/research-analysts-and-investment-advisers-get-permanent-sebi-registration/
Thanks for your response. What about the NISM X-A and X-B certifcations? Do they still need to be taken on a periodic basis or not needed any more?
Yes you need to renew the certifications before the due date to be compliant with certification requirements at all times.
Thanks a lot for your clarifications.