Relaxation of provision of advance fee rules for Investment Advisers (IAs) and Research Analysts(RAs): SEBI has increased the permissible advance fee period from three months for RAs and two quarters for IAs to one year, provided it is agreed upon by the client. The relaxed provisions apply specifically to individual and Hindu Undivided Family (HUF) clients who are not accredited investors. Fees for non-individual clients, accredited investors, and institutional proxy adviser recommendations will be determined through bilateral contracts. (SEBI Circular Dated 02/04/2025)