Section 22A in Securities and Exchange Board of India (Investment Advisers) Regulations, 2013
22A. [ Implementation of advice or execution. [Inserted by Notification No. SEBI/LAD-NRO/GN/2020/22, dated 3.7.2020 (w.e.f. 21.1.2013).]
(1)Investment adviser may provide implementation services to the advisory clients in securities market:Provided that investment advisers shall ensure that no consideration including any commission or referral fees, whether embedded or indirect or otherwise, by whatever name called is received; directly or indirectly, at investment adviser's group or family level for the said service, as the case maybe.(2)Investment adviser shall provide implementation services to its advisory clients only through direct schemes/products in the securities market.(3)Investment adviser or group or family of investment adviser shall not charge any implementation fees from the client.(4)The client shall not be under any obligation to avail implementation services offered by the investment adviser.]
