Procedure of Registration as a Portfolio Manager with SEBI

A portfolio manager is a body corporate.

A portfolio manager is responsible for the management and administration of a portfolio of securities or funds of the client.

Under a written and signed contract with the client, the portfolio manager directs or advises or undertakes on behalf of the client the said responsibility.

Here is the brief details on the procedure of the registration of a portfolio manager with SEBI.

Procedure for Registration

If you want to register yourself as a portfolio manager, then you have to make an application to Securities and Exchange Board of India (SEBI) for the registration.

Online Portal

An applicant is required to make an online application in Form A through the SEBI Intermediaries Portal i.e. siportal.sebi.gov.in.

Fees Payment

Along with the online application, the applicant shall have to make a payment of a non-refundable application fee of INR 1,00,000/- by way of direct credit in the bank account of SEBI through NEFT/ RTGS/ IMPS.

The application fee can also be paid by way of demand draft drawn in favor of ‘Securities and Exchange Board of India’, payable at Mumbai or at the place where respective regional office is located.

Net Worth

Any applicant desirous of seeking registration as a Portfolio Manager under PMS Regulations is required to have a minimum net worth of INR 50,000,000 (5 crore).

If an applicant does not already have this min. net worth at the time of application, then the application will be rejected.

Approval/ Rejection

After receipt of the application, the authorities at SEBI will evaluate the same, and if all things are found in order then approval shall be given. The status of which can be checked online.

SEBI may reject the same if any discrepancies are found in the application.