[16
March 2021] No.
SEBI/LAD-NRO/GN/2021/10.-In exercise of the powers conferred by sub-section (1)
of Section 30 read with sub-section (1) of section 11, clause (b) of
sub-section (2) of Section 11 and sub-section (1) of Section 12 of the
Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities
and Exchange Board of India hereby makes the following regulations to further
amend the Securities and Exchange Board of India (Portfolio Managers)
Regulations, 2020, namely:- These Regulations may
be called the Securities and Exchange Board of India (Portfolio Managers)
(Amendment) Regulations, 2021. They shall come into
force on the date of their publication in the Official Gazette. In the Securities and
Exchange Board of India (Portfolio Managers) Regulations, 2020,- I.
in clause (d) of
sub-regulation (2) of regulation 7, i.
sub-clause (i) shall be
substituted with the following sub-clause, namely,- "(i)
??a professional qualification in
finance, law, accountancy or business management from a university or an
institution recognized by the Central Government or any State Government or a
foreign university or a professional qualification by completing a Post
Graduate Program in the Securities Market (Portfolio Management) from NISM of a
duration not less than one year or a professional qualification by obtaining a
CFA charter from the CFA institute;" ii.
in sub-clause (iii), the
symbol "." shall be substituted with the symbol ":" iii.
in the first and second
provisos, the symbol "." shall be substituted with the symbol
":" iv.
after the second proviso,
the following proviso shall be inserted, namely,- "Provided
further that a fresh NISM certification shall be obtained before expiry of the
validity of the existing certification to ensure continuity in compliance with
the certification requirements." II.
In the first proviso to
clause (e) of sub-regulation (2) of regulation 7, the words "minimum
qualifications and experience" shall be substituted with the words and
symbol "minimum qualifications, experience and certification".Securities And Exchange Board Of
India (Portfolio Managers) (Amendment) Regulations, 2021