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<h1>SEBI Amends Portfolio Managers Regulations: New Principal Officer Criteria and Custodian Mandate for Large Asset Managers.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) informs all registered portfolio managers about the amendments to the SEBI (Portfolio Managers) Regulations, 1993, effective from the date of publication in the Official Gazette. Key amendments include redefining the 'principal officer' as an employee designated by the portfolio manager and setting qualifications or experience requirements for the principal officer. Additionally, it mandates the appointment of a custodian for securities managed by portfolio managers, exempting those with assets under management below 500 crore rupees or those providing purely advisory services.