Guidelines for Portfolio Managers - Extension of implementation timeline

Last updated: 30 June 2020

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Quick Summary

The Securities and Exchange Board of India (SEBI) has extended the implementation timeline for the 'Guidelines for Portfolio Managers' by an additional three months. This decision was made in response to market events caused by the COVID-19 pandemic and considering requests from portfolio managers. Consequently, the guidelines will now be applicable from October 1, 2020.

Securities and Exchange Board of India

CIRCULAR

SEBI/HO/IMD/DF1/CIR/P/2020/111

June 29, 2020

All Portfolio Managers

Sir / Madam

Subject: ‘Guidelines for Portfolio Managers’ – Extension of implementation timeline

1. In light of market events due to CoVID-19 pandemic, SEBI, vide Circular No. SEBI/HO/IMD/DF1/CIR/P/2020/57 dated March 30, 2020 extended, inter alia, the timeline for applicability of SEBI Circular No. SEBI/HO/IMD/DF1/CIR/P/2020/26 dated February 13, 2020 on ‘Guidelines for Portfolio Managers.

2. After taking into consideration requests received from portfolio managers and the prevailing business and market conditions, it has been decided to extend the timeline for compliance with the requirements of SEBI Circular No. SEBI/HO/IMD/DF1/CIR/P/2020/26 dated February 13, 2020, by further three months. Accordingly, the provisions of said SEBI Circular shall be applicable with effect from October 01, 2020.

3. This Circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and shall come into force with immediate effect.

4. This Circular is available on SEBI website at sebi.gov.in under the categories “Legal- Circulars” and “Info for – Portfolio Managers”.

Yours faithfully,

Naveen Sharma
General Manager
Tel no.: +91-22-26449709
Email: naveens@sebi.gov.in

FAQ :

The circular announces a further extension of the implementation timeline for the 'Guidelines for Portfolio Managers'.

The timeline has been extended due to market events related to the COVID-19 pandemic and in consideration of requests received from portfolio managers, as well as prevailing business and market conditions.

The timeline for compliance with the requirements of the SEBI Circular dated February 13, 2020, has been extended by a further three months.

The provisions of the SEBI Circular on 'Guidelines for Portfolio Managers' shall be applicable with effect from October 01, 2020.

This circular is available on the SEBI website (sebi.gov.in) under the categories 'Legal - Circulars' and 'Info for - Portfolio Managers'.