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Manu Chhabra had collected a total fee of over Rs 36.79 lakh from 157 clients. Out of this, around Rs 12.06 lakh were collected from the 50 clients whose PAN details were submitted.
The new framework will come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular.
Along with this cyber audit report, all MIIs have been directed by Sebi to submit a declaration of compliance from their MD or CEO certifying that comprehensive processes, including suitable incentive or disincentive structures, have been put in place for identification as well as closure of vulnerabilities in the organisation's IT systems
High net worth investors at risk as AIFs face redemption pressure but Sebi rules do not permit easy liquidation.
SEBI is planning to issue regulations for finfluencers, or financial influencers, who share investment advice on social media.