Q. 8 : We want to know if SEBI has given any specific date before we need to complete SEBI’s new requirement of quarterly report on SEBI sip portal.

Response:

In SEBI SIP portal, the “Reports” menu contains Quarterly compliance report.

This report seeks following details:

— Details of Contact person;

— Details of Advisory services

Based on types of clients like Individual / Corporate and Resident / Non-Resident – No. of investors as at quarter-end; and Net Assets under Management with breakup of Equity, Debt, etc.

— Networth at quarter-end, Networth Certificate and Number of representatives

— Details of Compliants

To the best of inquiries and research done, the ‘Quarterly compliance report’ on SEBI SIP portal is not specifically found as mandated in any regulation / guidelines / circular. Even the authorities are not aware of it.

However, in spirit of being at safe-end, better to file such ‘Quarterly compliance report’ after each quarter-end ASAP (within 15 days), though no due date is specified anywhere.

— Replied by: ARIA forum expert, CA. Sanjay Kadel (sk@sanjaykadel.com)

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