https://www.taxtmi.com/acts?id=56705 Portfolio managers must act under client agreements and may invest or advise in permitted securities, subject to Board-specified conditions for foreign securities, unlisted securities, and derivatives. Mutual fund investments must be made through direct plans without distribution-related client fees. Client-level prudential limits, credit-rating requirements, and alert-based monitoring apply, while investments in unrated securities of related parties or associates are prohibited. Client funds and securities must be segregated and safeguarded, with controlled aggregation, transfer, and securities-lending arrangements. Clients retain early withdrawal rights on termination, registration action, or portfolio manager bankruptcy or liquidation. en-us Wed, 14 Oct 2026 15:51:59 +0530 Wed, 14 Oct 2026 15:51:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=56705 Portfolio managers must act under client agreements and may invest or advise in permitted securities, subject to Board-specified conditions for foreign securities, unlisted securities, and derivatives. Mutual fund investments must be made through direct plans without distribution-related client fees. Client-level prudential limits, credit-rating requirements, and alert-based monitoring apply, while investments in unrated securities of related parties or associates are prohibited. Client funds and securities must be segregated and safeguarded, with controlled aggregation, transfer, and securities-lending arrangements. Clients retain early withdrawal rights on termination, registration action, or portfolio manager bankruptcy or liquidation. Act-Rules SEBI Wed, 14 Oct 2026 15:51:59 +0530 https://www.taxtmi.com/acts?id=56705