Circular No. SEBI/HO/IMD/IMD-PoD-1/P/CIR/2024/32; Dated: 02.05.2024
SEBI, in order to facilitate collective oversight of PMS distributors at the industry level, has decided that any person or entity involved in the distribution of portfolio management services must obtain registration with the Association of Portfolio Managers in India (APMI). This move aims to promote ease of doing business initiatives for portfolio managers.
Further, portfolio managers must ensure that the person or entity engaged in the distribution of its services has obtained registration with APMI in accordance with the criteria laid down by the APMI. The circular shall be effective from Jan 1, 2025. The APMI must issue the criteria for registration of distributors by July 1, 2024.
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