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       "quote": "(b) It has a documented process for selecting investments based on client’s investment objectives and financial situation;",
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       "quote": "(d) It has a reasonable basis for believing that a recommendation or transaction entered into:",
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       "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
       "quote": "(e) risk profile of the client is communicated to the client after risk assessment is done;",
       "source_date": "January 21, 2013",
       "reason": "review PARTIAL: **PARTIAL**\n\nThe excerpt includes the exact quote for the claimed rule (Regulation 16(e)): *\"risk profile of the client is communicated to the client after risk assessment is done.\"* However, the clai"
      },
      {
       "object": {
        "document": "documented process for selecting investments",
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       "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
       "quote": "(b) It has a documented process for selecting investments based on client’s investment objectives and financial situation;",
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       "reason": "review PARTIAL: PARTIAL. The excerpt explicitly includes the exact wording of the claimed supporting quote under \"Suitability. 17(b),\" but the claimed value also references \"Regulation 17(b),\" which is not clearly la"
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     "reason": "objects that did not verify (each with its reason)",
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      "actor": "investment adviser",
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      "actor": "person dealing in distribution of securities",
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      "source_date": "November 25, 2025",
      "read_at": "2026-10-31T18:36:28Z"
     },
     {
      "actor": "banks, NBFCs and body corporate providing distribution or execution services",
      "role": "shall keep their investment advisory services segregated from such activities",
      "rule": "Regulation 22 [Prior to SEBI (Investment Advisers) (Amendment) Regulations, 2020]",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/sep-2023/1694516444235_4.pdf",
      "source_date": "September 12, 2023",
      "read_at": "2026-10-31T18:36:54Z"
     },
     {
      "actor": "senior management of a body corporate which is registered as investment adviser",
      "role": "primary responsibility for ensuring the maintenance of appropriate standards of conduct and adherence to proper procedures",
      "rule": "Third Schedule, Clause 9",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/sep-2023/1694516444235_4.pdf",
      "source_date": "September 12, 2023",
      "read_at": "2026-10-31T18:36:54Z"
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     "https://www.sebi.gov.in/sebi_data/attachdocs/sep-2023/1694516444235_4.pdf",
     "https://www.sebi.gov.in/sebi_data/attachdocs/jun-2023/1687965605074_2.pdf",
     "https://www.sebi.gov.in/legal/regulations/nov-2025/securities-and-exchange-board-of-india-investment-advisers-regulations-2013-and-securities-last-amended-on-november-25-2025-_98246.html",
     "https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListing=yes&sid=2&ssid=3&smid=0",
     "https://www.sebi.gov.in/legal/regulations/jul-2023/securities-and-exchange-board-of-india-investment-advisers-regulations-2013-last-amended-on-july-4-2023-_74007.html",
     "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
     "https://www.sebi.gov.in/sebi_data/attachdocs/oct-2024/1729597803780_1.pdf"
    ],
    "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/mar-2026/ORDER_1774326039.pdf",
    "source_date": "March 25, 2026"
   },
   {
    "name": "review_triggers",
    "value": [
     {
      "event": "information provided by clients and their risk assessment is updated",
      "period_or_condition": "periodically",
      "party": "Investment adviser",
      "rule": "Regulation 16(f)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
      "source_date": "January 21, 2013",
      "read_at": "2026-10-31T18:36:54Z"
     },
     {
      "event": "fresh certification",
      "period_or_condition": "before expiry of the validity of the existing certification",
      "rule": "Regulation 7(2), second proviso",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
      "source_date": "January 21, 2013",
      "read_at": "2026-10-31T18:36:54Z"
     },
     {
      "event": "renewal of certificate of registration",
      "period_or_condition": "Three months before the expiry of the period of validity of the certificate",
      "party": "investment adviser",
      "rule": "Regulation 11(1)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
      "source_date": "January 21, 2013",
      "read_at": "2026-10-31T18:36:54Z"
     },
     {
      "event": "inform the Board in writing",
      "period_or_condition": "information found to be false or misleading in any material particular or any material change in the information already submitted",
      "party": "investment adviser",
      "rule": "Regulation 13(b)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/sep-2023/1694516444235_4.pdf",
      "source_date": "September 12, 2023",
      "read_at": "2026-10-31T18:36:54Z"
     },
     {
      "event": "revised assessment to the client",
      "period_or_condition": "situation has changed; at least 24 hours in advance of entering into such transaction",
      "party": "investment adviser",
      "rule": "Regulation 15(7), proviso",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/mar-2026/ORDER_1774326039.pdf",
      "source_date": "March 25, 2026",
      "read_at": "2026-10-31T18:36:54Z"
     }
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    "read_at": "2026-10-31T18:38:43Z",
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     "https://www.sebi.gov.in/sebi_data/attachdocs/mar-2026/ORDER_1774326039.pdf",
     "https://www.sebi.gov.in/sebi_data/attachdocs/jun-2023/1687965605074_2.pdf",
     "https://www.sebi.gov.in/legal/regulations/nov-2025/securities-and-exchange-board-of-india-investment-advisers-regulations-2013-and-securities-last-amended-on-november-25-2025-_98246.html",
     "https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListing=yes&sid=2&ssid=3&smid=0",
     "https://www.sebi.gov.in/legal/regulations/jul-2023/securities-and-exchange-board-of-india-investment-advisers-regulations-2013-last-amended-on-july-4-2023-_74007.html",
     "https://www.sebi.gov.in/sebi_data/attachdocs/oct-2024/1729597803780_1.pdf",
     "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf"
    ],
    "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
    "source_date": "January 21, 2013",
    "conflict": {
     "values": [
      {
       "object": {
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        "period_or_condition": "only after 12 months of onboarding the client or last change of mode",
        "party": "IA",
        "rule": "point (b) under “General Conditions under both modes”, Clause 2(iii) of SEBI Circular SEBI/HO/IMD/DF1/CIR/P/2020/182 dated September 23, 2020"
       },
       "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/oct-2024/1729597803780_1.pdf",
       "quote": "Subsequent change of mode of charging fees can be made only after 12 months of onboarding the client or last",
       "source_date": null,
       "reason": "review PARTIAL: PARTIAL\n\nThe excerpt mentions the 12-month restriction on changing the mode of charging fees (\"Subsequent change of mode of charging fees can be made only after 12 months of onboarding the client or l"
      }
     ],
     "reason": "objects that did not verify (each with its reason)",
     "selection_rule": "none — unresolved"
    }
   },
   {
    "name": "evidence_requirements",
    "value": [
     {
      "requirement": "IA shall be required to demonstrate AUA with supporting documents like demat statements, unit statements etc. of the client.",
      "context": "Assets under Advice (AUA) fee mode"
     }
    ],
    "read_at": "2026-10-31T02:03:18Z",
    "pages_checked": [
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     "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
     "https://www.sebi.gov.in/legal/regulations/jan-2013/sebi-investment-advisors-regulations-2013_26872.html",
     "https://www.sebi.gov.in/legal/regulations/feb-2023/securities-and-exchange-board-of-india-investment-advisers-regulations-2013-last-amended-on-february-07-2023-_69215.html",
     "https://www.sebi.gov.in/legal/regulations/dec-2024/securities-and-exchange-board-of-india-investment-advisers-regulations-2013-last-amended-on-december-16-2024-_90151.html"
    ],
    "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/oct-2024/1729597803780_1.pdf",
    "source_date": "OCTOBER 22, 2024"
   },
   {
    "name": "exceptions",
    "value": [
     {
      "exception": "Exemption from registration: general comments in good faith",
      "condition": "comments do not specify any particular securities or investment product",
      "provision": "Regulation 4(a)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
      "source_date": "January 21, 2013",
      "read_at": "2026-10-31T18:36:54Z"
     },
     {
      "exception": "insurance agent or insurance broker",
      "condition": "offers investment advice solely in insurance products and is registered with Insurance Regulatory and Development Authority",
      "provision": "Regulation 4(b)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
      "source_date": "November 25, 2025",
      "read_at": "2026-10-31T18:36:28Z"
     },
     {
      "exception": "pension advisor",
      "condition": "offers investment advice solely on pension products and is registered with Pension Fund Regulatory and Development Authority",
      "provision": "Regulation 4(c)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
      "source_date": "November 25, 2025",
      "read_at": "2026-10-31T18:36:28Z"
     },
     {
      "exception": "distributor of mutual funds",
      "condition": "member of a self regulatory organisation recognised by the Board or registered with an association of asset management companies of mutual funds; investment advice incidental to its primary activity",
      "provision": "Regulation 4(d)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
      "source_date": "November 25, 2025",
      "read_at": "2026-10-31T18:36:28Z"
     },
     {
      "exception": "advocate, solicitor or law firm",
      "condition": "investment advice incidental to their legal practise",
      "provision": "Regulation 4(e)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
      "source_date": "January 21, 2013",
      "read_at": "2026-10-31T18:36:54Z"
     },
     {
      "exception": "member of Institute of Chartered Accountants of India, Institute of Company Secretaries of India, Institute of Cost and Works Accountants of India, Actuarial Society of India or any other professional body as may be specified by the Board",
      "condition": "investment advice incidental to his professional service",
      "provision": "Regulation 4(f)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
      "source_date": "November 25, 2025",
      "read_at": "2026-10-31T18:36:28Z"
     },
     {
      "exception": "stock broker, portfolio manager or merchant banker",
      "condition": "investment advice incidental to their primary activity; shall comply with the general obligation(s) and responsibilities as specified in Chapter III",
      "provision": "Regulation 4(g)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
      "source_date": "November 25, 2025",
      "read_at": "2026-10-31T18:36:28Z"
     },
     {
      "exception": "fund manager of a mutual fund, alternative investment fund or any other intermediary or entity registered with the Board",
      "provision": "Regulation 4(h)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
      "source_date": "January 21, 2013",
      "read_at": "2026-10-31T18:36:54Z"
     },
     {
      "exception": "investment advice exclusively to clients based out of India",
      "condition": "persons providing investment advice to Non-Resident Indian or Person of Indian Origin shall fall within the purview of these regulations",
      "provision": "Regulation 4(i)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
      "source_date": "November 25, 2025",
      "read_at": "2026-10-31T18:36:28Z"
     },
     {
      "exception": "investment advice given through newspaper, magazines, any electronic or broadcasting or telecommunications medium",
      "condition": "widely available to the public",
      "provision": "Regulation 2(1)(l), proviso",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
      "source_date": "November 25, 2025",
      "read_at": "2026-10-31T18:36:28Z"
     },
     {
      "exception": "trading calls",
      "condition": "shall not be considered as investment advice",
      "provision": "Regulation 2(1)(l), second proviso",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
      "source_date": "November 25, 2025",
      "read_at": "2026-10-31T18:36:28Z"
     },
     {
      "exception": "disclosure of confidential information about client",
      "condition": "where such disclosures are required to be made in compliance with any law for the time being in force",
      "provision": "Regulation 15(6)",
      "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
      "source_date": "January 21, 2013",
      "read_at": "2026-10-31T18:36:54Z"
     }
    ],
    "read_at": "2026-10-31T18:38:51Z",
    "pages_checked": [
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     "https://www.sebi.gov.in/sebi_data/attachdocs/sep-2023/1694516444235_4.pdf",
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     "https://www.sebi.gov.in/sebi_data/attachdocs/oct-2024/1729597803780_1.pdf"
    ],
    "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/1358779330956.pdf",
    "source_date": "January 21, 2013",
    "conflict": {
     "values": [
      {
       "object": {
        "exception": "principal officer, persons associated with advice and partner of an investment adviser registered under these regulations",
        "condition": "shall comply with regulation 7",
        "provision": "Regulation 4(j)"
       },
       "source_url": "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
       "quote": "Provided that such 27[principal officer, persons associated with advice] and partner shall comply with regulation 7 of these regulations;",
       "source_date": "November 25, 2025",
       "reason": "review PARTIAL: PARTIAL\n\nThe excerpt includes the exact phrase \"principal officer, persons associated with advice and partner of an investment adviser registered under these regulations\" and states they \"shall comply"
      }
     ],
     "reason": "objects that did not verify (each with its reason)",
     "selection_rule": "none — unresolved"
    }
   },
   {
    "name": "orderability_profile_ref",
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    "read_at": "2026-10-31T02:22:54Z",
    "pages_checked": [
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     "https://www.sebi.gov.in/legal/regulations/jan-2013/sebi-investment-advisors-regulations-2013_26872.html",
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    ]
   },
   {
    "name": "sources",
    "value": [
     {
      "title": "Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 [Last amended on December 16, 2024]",
      "date": "Dec 16, 2024"
     }
    ],
    "read_at": "2026-10-31T02:03:18Z",
    "pages_checked": [
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     "https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1785912187595.pdf",
     "https://www.sebi.gov.in/legal/regulations/jan-2013/sebi-investment-advisors-regulations-2013_26872.html",
     "https://www.sebi.gov.in/legal/regulations/feb-2023/securities-and-exchange-board-of-india-investment-advisers-regulations-2013-last-amended-on-february-07-2023-_69215.html"
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    "source_date": "Dec 16, 2024"
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  ],
  "reading": {
   "run": "reads/BOOK05g-20261031",
   "order": "BOOK-05 (2026-10-31): targeted readings against the rule text",
   "read_at": "2026-10-31T20:06:04Z",
   "engines": {
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    "reader": "claude-opus-5-5",
    "review": "mistral-large-latest (review-only)"
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     "sha256": "sha256:19a45ac11b5903b184e2c08bae49394e61f6a2360d43dbedae371ae16fcb6556",
     "read_at": "2026-10-31T20:05:36Z",
     "last_modified": "Mon, 21 Mar 2022 06:17:19 GMT"
    }
   },
   "counts": {
    "filled": 3,
    "not_found": 0,
    "conflict": 0,
    "inferred": 0,
    "kept": 0,
    "unstructured": 0
   },
   "notes": {
    "client_categories": "4 object(s) verified · held value superseded",
    "distribution_conditions": "3 object(s) verified, 2 not",
    "required_assessments": "1 object(s) verified, 1 not"
   }
  }
 },
 "signature": {
  "alg": "EdDSA",
  "kid": "allooloo-eco-2026-10",
  "protected": "eyJhbGciOiJFZERTQSIsImtpZCI6ImFsbG9vbG9vLWVjby0yMDI2LTEwIn0",
  "signature": "gGiV0MvRbsfFckOV2nJorj7fAD_YAi-DAxsnRZEqQV3_aRdA6t8VJg6Lroc1sW0dkUZ50eI7u93YoqSj7d0TDw",
  "jwks": "https://mcp.in-cm-kg.ai/.well-known/jwks.json",
  "over": "base64url(protected) + '.' + base64url(canonical JSON of the file without signature: keys sorted, compact)"
 }
}