Regulatory Alerts2025-10-24
SEBI Circular on Transfer of PMS Business by Portfolio Managers
The Securities and Exchange Board of India (SEBI) has issued a circular permitting Portfolio Managers to transfer their Portfolio Management Services (PMS) business to other registered entities. The regulation distinguishes between transfers within the same group, which allow for partial transfers of investment approaches, and transfers to unrelated entities, which require the transfer of the entire business and joint SEBI approval. The process mandates strict compliance timelines, client consent, and the surrender of registration certificates upon completion to ensure investor protection.
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