News | Regulation

RBI Updates Non-Callable Fixed Deposit Rules: What It Means for Depositors

MAS Team 30 October 2023
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A recent update from the Reserve Bank of India (RBI) regarding non-callable fixed deposits has garnered attention.

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Aadhaar Biometric Security: Protecting Your Finances and Identity

MAS Team 20 October 2023
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In India, Aadhaar Enabled Payment Systems (AEPS) have revolutionized the way individuals access their bank accounts, offering a user-friendly method...

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Sebi Unveils Stringent Anti-Money Laundering and Terrorism Financing Guidelines

MAS Team 20 October 2023
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The Securities and Exchange Board of India (Sebi), the nation's capital markets regulator, has rolled out a comprehensive set of amendments aimed at...

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SEBI Introduced Centralized Mechanism for Reporting Investor Demise

MAS Team 05 October 2023
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Market regulator Securities and Exchange Board of India (SEBI) has taken a significant step in enhancing investor protection by launching a...

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SEBI Extends Deadline for Demat Account Holders to Choose Nomination or Opt Out

MAS Team 27 September 2023
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SEBI, the capital markets regulator, has decided to extend the deadline for existing demat account holders to make a choice of nomination or formally...

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Verify PAN and Check PAN-Aadhaar Linking Status Online

MAS Team 05 July 2023
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In order to ensure the validity of a Permanent Account Number (PAN) and check its status, individuals and companies can easily verify PAN details...

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Link Aadhaar and PAN before June 30 to Avoid Penalties and Inoperative PAN

MAS Team 16 June 2023
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The deadline for linking Aadhaar and PAN is approaching, and individuals are urged to complete the process to avoid penalties and the risk of an...

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SEBI Proposes Revisiting the Definition of UPSI to Strengthen Insider Trading Regulations

MAS Team 09 June 2023
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In order to discourage unethical practises and improve market integrity, the Securities and Exchange Board of India (SEBI) is considering reviewing...

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Aadhaar, PAN becomes compulsory for PPF, SSY and other small saving schemes

MAS Team 07 April 2023
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On March 31, 2023, the Ministry of Finance announced that individuals will now be required to provide their PAN (Permanent Account Number) and...

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PFRDA Mandates Video-based Identification

MAS Team 09 January 2023
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The Pension Fund Regulatory and Development Authority (PFRDA) has determined to permit intermediaries to use technological intervention by using...

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Changes in Our Business Model
 
 
25th Sept 2020
 
Greetings from Moneylife Advisory Services
 
Between financial years 2019-21, SEBI has come up with extensive changes to investor advisor regulations. On Sep 23, 2020, SEBI had issued new additional guidelines. This comes just two months after extensive changes announced in July 2020. Earlier, in December 2019 there was an ad hoc circular
 
As a result of these changes, IAs, cannot accept fees through credit cards, will have to sign a 26-clause investor agreement, have to maintain physical record written & signed by client, telephone recording, emails, SMS messages and any other legally verifiable record for five years. IAs were already asked to record the suitability and rationale for every piece of advice given, sign them and store them for five years.
 
While these extensive and frequent changes, designed to strengthen the conduct of IAs are well-meaning, these have sharply increased compliance efforts and cost. We, being online advisors, find many of changes harder to implement, compared to advisors working in the physical space. We will have to have an army of advisors, administrative and tech staff to be compliant. If we do this, we will have to divert money to these areas and the cost of our service will double. We want to remain the least-cost service in the market to benefit more and more people. In the circumstances, we are forced to change our business model from “advisory” to “research”. This will mean the following:
 
What remains the same:
  • Recommendations on insurance, investment and Lion stocks, will continue as a part of the MAS premium subscription. Our strength has always been research and this will remain available to you through our recommendations.
  • The magazine and all textual content will remain as part of the service
  • We will have to suspend the restructuring tool.
 
What changes:
  • The interactions in Ask / Handholding will offer investment advice but not specific to your situation. It will offer information on investment products and also clarify your doubts about various financial products. It will be a forum for information, not for advice. This will be implemented with immediate effect and our guidelines in Ask, reflect this now.
 
Over the next few weeks our site and our communication to you will reflect these and other additional changes.
 
We feel this will not affect you much in terms of what really matters in investing: knowing what to buy and when to buy. This is our edge and it will still be available to you.
 
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Debashis Basu
Founder