India, Aug. 8 -- As the pandemic changes the way Indians look at investing and saving money along with increased adoption of digital investment and wealth management platforms. This ecosystem is now at the cusp of a major regulatory overhaul after the Securities and Exchange Board of India (SEBI) allowed stock exchanges to propose a subsidiary to regulate investment advisors.

To put it into perspective, there are around 1,300 SEBI-registered investment advisors (RIAs) in India, which includes both traditional offline advisors and new-age online platforms.

What Does The New SEBI Circular Say?

The new SEBI notification called for a wholly-owned subsidiary of a stock exchange to administer and supervise such advisers. The stock exchange n...