SEBI has made it compulsory for Portfolio Management Services (PMS) providers to register with the Association of Portfolio Managers in India (APMI).

Banking & Finance

SEBI has made it compulsory for Portfolio Management Services (PMS) providers to register with the Association of Portfolio Managers in India (APMI) to enhancing oversight and streamlining operations in the financial sector. This decision, announced recently by SEBI, is part of a broader initiative to promote collective oversight of PMS distributors, ultimately fostering a more efficient and transparent business environment for portfolio managers. The move is aimed at promoting ease of doing business initiatives for portfolio managers. The new directive would come into effect from 1 January 2025, and APMI would issue the criteria for registration of distributors by 1 July 2024.


      Currently, persons engaged by a portfolio manager to act as a distributor of the PMS are required to obtain certification from the National Institute of Securities Markets (NISM).

     

     

 

     


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