The Securities and Exchange Board of India vide its notification dated 26th April 2021 has published the SEBI (Portfolio Managers) (Second Amendment) Regulations, 2021 to further amend the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020.
The Amendment is brought under regulation 11 which specifies the conditions for registration as a portfolio manager in which a new clause 11(aa) has been inserted which states that 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.
