[SEBI]Portfolio manager shall not maintain pool accounts after 10th May 2009&to keep client’s listed securities separately or stop dealing
Portfolio Managers shall keep every client’s listed securities separately on or before 10th May 2009 OR stop undertaking new clients for portfolio management services and submit monthly progress reports till they become fully compliant.
From 10th May 2009 onwards all the POOL ACCOUNTS of clients securities shall be FROZEN and there shall be NO fresh purchases EXCEPT FOR selling or transferring securities from the said account.
To understand the provisions in detail, click https://yehseeyes.blogspot.com/2009/05/sebiportfolio-manager-shall-not.html
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