I recently wrote SEBI investment adviser exam, in a chilly winter morning in Delhi on the 31st of December XA and XB. In addition I paid 25K to http://www.cskruti.com to get this person’s assistance in filing paperwork with SEBI for the IA licence, coz I can’t be bothered dealing with Govt. dolts.
Now that I have the certificates, it says that the validity is 3 years. Imagine, you have 200 clients several 100 crore corpus under management, and then you are not able to clear the exam (which is not easy, I have to say) after three years because of change in syllabus, then what, your clients have to leave you, sell all their holdings and go to someone else ?
Do CA’s have to write the exam every 5 years?
So, I think SEBI is foolish, and my decision is to avoid partnering with a silly regulator that SEBI is.