Maintenance of Clients’ Funds in a separate Bank Account by Portfolio Managers

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..... tenance of Clients Funds in a separate Bank Account by Portfolio Managers 1. Regulation 16(7) of the SEBI (Portfolio Managers) Regulations, 1993, states that the portfolio manager shall segregate each client s funds and portfolio of securities and keep them separately from his own funds and securities and be responsible for safe keeping of clients funds and securities. 2. With regard to .....

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..... of the Securities and Exchange Board of India Act, 1992, read with regulation 39 of SEBI (Portfolio Managers) Regulations, 1993 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 4. This circular is available on SEBI website at www.sebi.gov.in under the category Legal Framework . Yours faithfully, Maninder Chee .....

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