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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Regulation 30: Portfolio Managers Must Maintain Separate Client Accounts, Ensure Audits, and Submit Compliance Certificates Annually.</h1> Regulation 30 of the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020 mandates that portfolio managers maintain separate accounts for each client. These accounts must accurately reflect all transactions, including funds received, investments, credits like interest or dividends, and debits for expenses. Tax deductions as per the Income-Tax Act, 1961, must also be recorded. Annual audits by qualified auditors are required to ensure compliance with accounting standards, and a certificate of compliance must be submitted to the Board within six months of the fiscal year-end. Clients may appoint independent auditors to review their transactions, and portfolio managers must facilitate this process.
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