Networth requirement tightened for portfolio managers, with phased uplift plus separate capital adequacy and custody segregation obligations. Amendments revise qualification, capital, custody and disclosure requirements for portfolio managers: broadened experience to include related activities; increased minimum networth with phased transitional uplift and separate capital adequacy per activity; prohibition on holding clients' listed securities in the manager's name with mandatory segregation of existing holdings subject to transitional relief; and modifications to registration forms and model disclosure documents emphasizing market risk warnings, non guarantee of objectives, and disclosures about lack of prior track record.