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of <h1>SEBI Updates Rules for Portfolio Managers: Inform Investors of Management Changes, Offer Exit Option Without Load.</h1> The Securities and Exchange Board of India (SEBI) has modified a previous circular regarding the procedure for obtaining prior approval in cases of changes in control of Portfolio Managers providing co-investment services. Portfolio Managers must inform existing investors about any proposed changes in management and offer them the option to exit without any exit load within 30 calendar days. This ensures investors can make informed decisions about their investments. The circular maintains all other existing requirements and is issued under the authority of the SEBI Act, 1992, and related regulations to safeguard investor interests and regulate the securities market.
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