Regulatory Alerts2023-03-20
Added
Master Circular for Portfolio Managers
The Securities and Exchange Board of India consolidates provisions from circulars issued until November 30, 2022 into a single Master Circular for Portfolio Managers, rescinding the listed prior circulars while preserving the validity of actions taken under them. The document mandates that Portfolio Managers submit necessary reports on a periodic or continuous basis and establishes specific effective dates for certain provisions, including April 1, 2023, for paragraphs 2.6 and 2.7, and the quarter ending September 2023 for paragraphs 5.4.3 and 5.4.4. It further outlines registration procedures, co-investment service requirements, change in control approvals, and operational guidelines for advertisements, client onboarding, and grievance redressal.