Sebi approves reforms to portfolio manager regulations and settlement process
· Business · Business Standard, Bloomberg
Sebi has approved reforms to the regulations governing portfolio managers in India, aiming to tighten oversight and improve transparency. The changes include updated disclosure requirements for portfolio management services and stricter norms for client onboarding and risk assessment. Additionally, Sebi has revised the settlement proceedings framework to expedite the resolution of enforcement cases and reduce pendency. The reforms are intended to strengthen investor protection and ensure greater accountability in the wealth management sector. Sebi stated that the updated rules will come into effect after a specified transition period for existing portfolio managers to comply.
Why it matters
The reforms will directly impact portfolio managers and high-net-worth investors who use PMS products, potentially altering how investment advice is delivered and monitored. Enhanced disclosure and settlement mechanisms aim to reduce mis-selling and improve redressal mechanisms in case of disputes.
Read the original report — Business Standard
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