Portfolio manager to obtain prior approval of Sebi in case of change in control
PTI
Sebi has notified new norms, whereby portfolio managers will need to obtain prior approval of the capital markets regulator in case of change in control.
This comes after Sebi, in March, came out with new regulations for portfolio managers with regard to their qualifications.
Amending condition for registration of portfolio managers, Sebi said, "the portfolio manager shall obtain prior approval of the board in case of change in control in such manner as may be specified by the board", according to a notification issued on Monday.