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Maintenance of Clients’ Funds in a separate Bank Account by Portfolio Managers

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Full Text of the Document

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.... IMD/DOF I/PMS/Cir- 4/2009 June 23, 2009 All Registered Portfolio Managers Dear Sir/ Madam, Sub: Maintenance of Clients' Funds in a separate Bank Account by Portfolio Managers 1. Regulation 16(7) of the SEBI (Portfolio Managers) Regulations, 1993, states that "the portfolio manager shall segregate each client's funds and portfolio of securities and keep them separately from his ow....

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