IAASB for Investment Advisers: What the Administration and Supervisory Body Actually Does
- August 18, 2026
- Posted by: Kunal Singla
- Category: advisory
IAASB is the Investment Adviser Administration and Supervisory Body, currently operating through BSE. It administers IA registration applications on SEBI’s behalf. IAASB handles periodic reporting …
Quick Answer
IAASB investment adviser functions are administrative and supervisory — not regulatory in the primary sense. SEBI remains the ultimate regulator with authority to grant, suspend or cancel registrations. IAASB administers the application journey, assesses documentation, maintains periodic reporting frameworks and performs supervisory oversight on behalf of SEBI for the IA segment.
Understanding the IAASB investment adviser relationship helps both aspiring IAs navigating the registration process and investors who encounter references to IAASB in advisory disclosures. The distinction between IAASB’s administrative role and SEBI’s regulatory authority clarifies what each body does and does not control.
This guide explains the IAASB investment adviser role, its relationship with SEBI and what investors and advisory businesses should know about how IAASB functions.
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What IAASB Is and Who Operates It
Understanding IAASB investment adviser in this context helps investors and advisory businesses navigate this area. IAASB stands for Investment Adviser Administration and Supervisory Body. As of August 2026, IAASB functions are operated by BSE under SEBI’s framework for delegating administrative and supervisory functions for the IA segment. The IAASB investment adviser relationship is one of administration and oversight — IAASB is not the primary regulator. SEBI retains all primary regulatory powers including the authority to grant, suspend or cancel IA registrations and to take enforcement action.
Core Functions of IAASB for Investment Advisers
The IAASB investment adviser administration covers several key functions. Application assessment: IAASB receives registration applications submitted through its portal, checks documentation completeness and eligibility, and forwards assessed applications to SEBI. Enlistment: registered IAs are enlisted with IAASB, which maintains the records for the IA segment it supervises. Periodic reporting: IAASB prescribes the reporting format and frequency for periodic returns that registered IAs must file. Supervision: IAASB monitors the IA segment’s compliance with applicable requirements on SEBI’s behalf.
| Function | Performed By | Description |
|---|---|---|
| Registration grant | SEBI | SEBI is the registering authority; IAASB does not grant registration |
| Application assessment | IAASB | Checks completeness, eligibility and forwards to SEBI |
| Enlistment | IAASB | Maintains records of registered IAs in its supervisory scope |
| Periodic reporting format | IAASB (SEBI consultation) | Specifies reporting format and frequency |
| Enforcement | SEBI | Suspension, cancellation and enforcement are SEBI powers |
IAASB Deposit and Fee Administration
The IAASB investment adviser framework also covers deposit administration. SEBI requires registered IAs to maintain a deposit in a scheduled bank account with a lien in favour of IAASB, calibrated to the number of clients served. IAASB administers this deposit requirement as part of its supervisory role. The deposit serves as a client-protection mechanism and is subject to annual review based on client count changes.
What IAASB Cannot Do
The IAASB investment adviser relationship has limits. IAASB cannot grant IA registration — that power rests solely with SEBI. IAASB cannot independently cancel or suspend a registration without SEBI authority. Investors with grievances against a registered IA should first use the IA’s internal grievance process, then escalate to SEBI SCORES — not to IAASB directly, as investor grievance resolution is SEBI’s function. Investors can verify whether an advisory platform’s registration is active at sebi.gov.in.
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Conclusion
Understanding IAASB investment adviser in this context helps investors and advisory businesses navigate this area. IAASB is the administrative and supervisory body for investment advisers, currently operated by BSE. It handles IA application assessment, enlistment, periodic reporting formats and deposit administration on SEBI’s behalf. SEBI retains all primary regulatory powers including registration grant, enforcement and cancellation authority. Investors with grievances against a registered IA should escalate through SEBI SCORES rather than IAASB directly.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with official sources before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is IAASB for investment advisers?
Ans. Iaasb investment adviser is relevant here. IAASB (Investment Adviser Administration and Supervisory Body) is the body that administers IA registration applications and supervisory functions on SEBI’s behalf. Currently operated by BSE, IAASB assesses applications, manages enlistment and periodic reporting and oversees the deposit requirement for registered IAs. SEBI remains the primary regulatory authority; IAASB is an administrative and supervisory intermediary.
Does IAASB grant investment adviser registration?
Ans. Iaasb investment adviser is relevant here. No. IAASB does not grant IA registration. IAASB assesses the completeness and eligibility of applications and forwards them to SEBI. SEBI is the registering authority that grants, suspends or cancels investment adviser registration. All enforcement powers also rest with SEBI.
Why was IAASB created for the investment adviser segment?
Ans. Iaasb investment adviser is relevant here. IAASB was created to provide a dedicated administrative and supervisory structure for the growing investment adviser segment in India, similar to how SROs (Self-Regulatory Organisations) operate in other segments. By delegating administrative functions to IAASB, SEBI can maintain regulatory oversight while enabling specialised administration through a dedicated body with the relevant operational capacity.
How does the IAASB deposit requirement work?
Ans. Iaasb investment adviser is relevant here. SEBI requires registered IAs to maintain a deposit in a scheduled bank account with a lien in IAASB’s favour, calculated based on the number of clients served in calibrated slabs. This deposit serves as a client-protection mechanism. IAASB administers the deposit requirement and conducts annual reviews based on changes in the IA’s client count.
Where should investors raise grievances about an investment adviser?
Ans. Iaasb investment adviser is relevant here. Investors with grievances against a SEBI-registered IA should first use the IA’s internal grievance process as described in the investor charter or client agreement. If unresolved within 30 days, they should escalate through SEBI SCORES at scores.sebi.gov.in. Grievances are not submitted to IAASB directly.
Does an investment adviser deal directly with IAASB or with SEBI?
Ans. Iaasb investment adviser is relevant here. Registered IAs interact with IAASB for administrative functions: submitting applications, filing periodic reports, maintaining enlistment and managing the deposit requirement. For regulatory enforcement matters — show-cause notices, suspension proceedings or conduct inquiries — the interaction is with SEBI. Both relationships are part of the overall compliance framework for registered IAs.
