The Security and Exchange Board of India (SEBI) has issued guidelines for Portfolio Managers. This circular has been issued to protect the interests of investors in the securities market and to promote the development of, and to regulate the securities market. The board had earlier reviewed the framework for the regulation of Portfolio Managers based on the recommendations of a Working Group and inputs from public consultation.
As per the circular, changes to the regulatory framework for SEBI Portfolio Managers are mandated in the areas of Fees and Charges, Direct onboarding of clients by Portfolio Managers, Nomenclature ‘Investment Approach’, Periodic reporting by Portfolio Managers, Reporting of Performance by Portfolio Managers, Disclosure Documents and Supervision of Distributors.
The Circular will be applicable form 1st of May 2020.
Subscribe Taxscan Premium to view the Judgment
