Portfolio Managers must follow consolidated SEBI rules on registration, client fund segregation, related party limits, disclosures and reporting. Master Circular consolidates SEBI portfolio manager circulars into a single framework effective March 20, 2023, prescribes online registration and change-in-control approval procedures, mandates compliance governance (designation of compliance officer, Board-approved written policies on order execution and allocation), segregation and daily reconciliation of client funds, certification requirements for associated persons and distributors, prudential limits and prior client consent for related-party investments, minimum credit-rating rules, reporting obligations to SEBI and clients in prescribed formats, automated systems for large AUM, RFQ execution targets for corporate bonds, and standardized disclosure of fees, performance, investor charter and complaint data.
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Portfolio Managers must follow consolidated SEBI rules on registration, client fund segregation, related party limits, disclosures and reporting.
Master Circular consolidates SEBI portfolio manager circulars into a single framework effective March 20, 2023, prescribes online registration and change-in-control approval procedures, mandates compliance governance (designation of compliance officer, Board-approved written policies on order execution and allocation), segregation and daily reconciliation of client funds, certification requirements for associated persons and distributors, prudential limits and prior client consent for related-party investments, minimum credit-rating rules, reporting obligations to SEBI and clients in prescribed formats, automated systems for large AUM, RFQ execution targets for corporate bonds, and standardized disclosure of fees, performance, investor charter and complaint data.
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