SEBI CSCRF for Individual Investment Advisers
Outside the scope of CSCRF.
Individual IAs excluded from CSCRF (Apr 2025).
Classification
What decides a Individual Investment Adviser's tier
Individual Investment Advisers sit outside CSCRF as the framework currently stands. That is a deliberate proportionality decision rather than a statement that the risk is absent, and it is scoped to the registration category — it does not travel with the person if the registration does.
No measurement applies. Individual Investment Advisers are classified directly by the framework, so the tier does not change with size, client count or assets.
Some answers put a Individual Investment Adviser outside CSCRF entirely. The wizard states the exact threshold and shows the exemption alongside the result.
The exposure that CSCRF is not addressing here is real and unchanged: an individual adviser holds client financial profiles, risk assessments and often account access, typically on personal-grade infrastructure with no separate administrator. Client data obligations under other law continue to apply, as do the SEBI Investment Adviser Regulations themselves. Exclusion from this framework is not exclusion from consequence.
Where this goes wrong
The exclusion is a category, not a status
Two ordinary events end it. Registering in another SEBI category brings the obligations of that category with it. Converting to a non-individual entity moves the registration into a category the framework does reach. Either of those is a business decision made for business reasons, and the compliance consequence tends to be discovered afterwards rather than planned for.
How we help
CERT-In empanelled, and the report is written for the submission
We run the VAPT and cyber-audit scope your tier requires, and the deliverable is written to be filed — mapped to the CSCRF control set rather than handed over as a generic findings list that someone then has to translate.
Verified against the source circulars as of 3 August 2026.