Complete guide to SEBI portfolio manager registration covering discretionary & non-discretionary management, client corpus requirements, and compliance obligations
Three-step pathway to become a SEBI registered Portfolio Manager
Submit Form A to SEBI with organizational details, principal officer qualifications, investment strategy, portfolio management policy, infrastructure details, and registration fee
SEBI reviews eligibility, net worth compliance, principal officer qualifications, client protection mechanisms, infrastructure, and compliance framework before granting approval
Obtain SEBI PMS registration certificate. Commence portfolio management operations with minimum client corpus of ₹50 Lakhs while maintaining all compliance obligations
Essential compliance areas for SEBI registered Portfolio Managers
Maintain separate client accounts and portfolios, ensure complete segregation of client assets from company assets, and use a SEBI-registered custodian for securities safekeeping
Execute detailed PMS agreements with clients covering investment strategy, fee structure (fixed/performance), reporting frequency, termination clauses, and risk disclosures
Maintain portfolio records for 8 years, provide quarterly portfolio statements to clients, submit annual reports to SEBI, and disclose material changes in investment strategy
Principal officer must have post-graduate qualification in finance/related field with 5 years securities market experience and mandatory NISM certification as prescribed by SEBI
Key financial and operational requirements for Portfolio Manager registration with SEBI
Trugydex provides expert guidance for PMS registration, disclosure document preparation, compliance framework setup, and ongoing SEBI regulatory support
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