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<h1>Fund Managers Must Comply with SEBI Regulations, Section 9A of Income-tax Act; Maintain Records and Report Quarterly</h1> Eligible fund managers must adhere to several obligations under the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020. They must comply with Section 9A of the Income-tax Act, 1961, and provide various services to eligible investment funds. Fund managers are required to operate per agreed contracts, disclose material information, and segregate funds and securities. They must maintain separate accounts, appoint custodians, and deposit funds in scheduled commercial banks unless exempted. Additionally, they must maintain records, provide quarterly reports, ensure compliance with money laundering laws, and follow SEBI regulations and guidelines.