India Hot Topics
SEBI releases further guidelines for investment advisors on client segregation,fees and record-keeping
Markets regulator Sebi has come out with detailed guidelines for investment advisers asking them to ensure segregation of advisory and distribution activities at the client level.
Besides, Sebi has fixed a cap on fee that investment advisers (IA) can charge from clients. It has also put in place a procedural framework pertaining to audit and record-keeping.
Under the rules, an individual IA will apply for registration as non-individual investment adviser on onboarding 150 clients and IA will have to enter into an investment advisory agreement with its clients.
In a circular on Wednesday, the regulator said investment advisers will have to ensure compliance with regard to client-level segregation of advisory and distribution activities.
To ensure client-level segregation at the IA’s group level, Sebi said existing clients who wish to take advisory services will not be eligible for availing distribution services within the group/family of IA, and vice versa for those availing advisory services.
It further said a new client will be eligible to avail either advisory or distribution services within the group or family of the investment advisers and this option needs to be made available at the time of boarding.
However, in case where a dispute has been raised, such records will be kept till its resolution or if Sebi desires that specific records be preserved, then such records will be kept till further intimation from the regulator.
The deadline for compliance for these guidelines ranges from January 1, 2021 to April 1, 2021, the Securities and Exchange Board of India (Sebi) noted.
Sebi had floated a consultation paper on investment advisers in January and after considering the inputs from public notified the norms in this regard in July and these amended norms will come into force on September 30.
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Also Read : India Ratings Maintains Negative Outlook On NBFCs, Housing Finance Companies For Second Half Of FY21
Movie
The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.
Madras High Court Grants Early Screenings of Vijay’s “Leo” Movie at 7 AM, Urges TN Government to Address Concerns
The Madras High Court has made a landmark decision in favor of the much-anticipated Tamil film “Leo,” starring actor Vijay. In a significant move, the court has granted permission for early screenings of the movie from 7 AM, urging the Tamil Nadu government to swiftly address any issues and facilitate the smooth release of the film. This decision marks a pivotal moment in the realm of Tamil cinema and the entertainment industry at large.
Historical Context:
The Indian film industry, particularly the Tamil film industry, has seen its share of controversies and challenges related to film releases. Issues such as censorship, political disputes, and public sentiment have often played a significant role in shaping the release schedules and screening times for films. Vijay, one of Tamil cinema’s most prominent actors, has been at the center of such controversies in the past. This decision by the Madras High Court is, therefore, particularly noteworthy.
The Ruling:
The Madras High Court’s decision to permit early screenings of “Leo” comes as a response to a plea filed by the film’s producers. The court, while considering the plea, took into account various factors, including the film’s anticipated popularity and the prevailing circumstances. The court emphasized the importance of accommodating the audience’s interests and allowing them to enjoy the film without disruptions.
A Step Towards Normalization:
The court’s decision signifies a positive shift in the film industry, where release dates and screening times are often mired in controversy. By allowing screenings to commence at 7 AM, the court aims to reduce the chances of public unrest and congestion near theaters, especially in the wake of high-profile film releases.
The Role of the Tamil Nadu Government:
The Madras High Court, in its ruling, also called upon the Tamil Nadu government to cooperate in ensuring a seamless release for the film. This cooperation extends to providing necessary security measures to maintain law and order around theaters during the early screenings.
Implications for the Entertainment Industry:
The decision is expected to set a precedent for the release of other highly anticipated films, not just in Tamil cinema but also in the broader Indian film industry. The court’s emphasis on the importance of accommodating the audience’s interests could lead to more flexible screening times for movies in the future.
The Audience’s Perspective:
For moviegoers and fans of Vijay, this decision comes as a welcome relief. They can now look forward to enjoying the film without any undue delays or disruptions, ensuring a memorable cinematic experience.
In conclusion, the Madras High Court’s ruling to allow early screenings of Vijay’s “Leo” at 7 AM while urging the Tamil Nadu government to resolve any issues paves the way for a more audience-centric approach in the film industry. It is a landmark decision that highlights the importance of balancing the interests of filmmakers and the movie-loving public. This judgment is poised to make a positive impact on the release of future films, ushering in a new era of flexibility and convenience for cinema enthusiasts.
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