Mandatory APMI Registration for Distributors of Portfolio Management Services

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Jul 23, 2024

Mandatory APMI Registration for Distributors of Portfolio Management Services

With a view to promote ease of doing business, simplify compliances and facilitate collective oversight of distributors of portfolio management services, the Securities Exchange Board of India (‘SEBI’) has, by way of a Circular dated May 2, 2024, directed that any person or entity involved in the distribution of portfolio management services must obtain registration with the Association of Portfolio Managers in India (‘APMI’). Portfolio managers are required to ensure that persons or entities engaged in the distribution of its services are registered with the APMI, in accordance with registration criteria to be issued by APMI by July 1, 2024.

The Circular will be effective from January 1, 2025.

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