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Are you a finance professional- CA, CS, or CFA or passionate about stock investing? Then, Portfolio management services can open the door to golden opportunities for you. Our experts at Enterslice will help you with PMS registration with SEBI in India.
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PMS registration with SEBI is a process that allows a financial professional or entity to obtain a license to handle or manage an investment portfolio on behalf of its clients. The Securities and Exchange Board of India governs and controls portfolio managers based on qualification and regulatory requirements. A mutual fund is a mass market, while a PMS is a premium market.
A portfolio manager is responsible for overseeing their clients’ investment returns while simultaneously mitigating the risks. The registration certificate ensures that the PMS is certified to provide services to its clients.
With Enterslice assistance, you can:
Appoint a compliance and principal officer
Complete your legal documentation
Apply for the SEBI PMS registration
Reply to queries to the SEBI
Fulfil your annual obligations
Renew your PMS registration with SEBI certification
Get real-time tracking of your application
Connect with an individual case manager
Maximize your wealth with SEBI PMS registration in India through the Enterslice team.
Scroll down and find out the different types of PMS registration with SEBI-based on assets, as explained below:
Highly focused on equity instruments, including listed shares, unlisted shares, and mutual funds. This is considered high-risk due to market fluctuations. Recommended for investors seeking long-term capital appreciation.
Investment is made in fixed-income securities, which are typically debt instruments such as corporate bonds (issued by companies), government securities (issued by the government), and debt mutual funds (pooled investments in various debt instruments). These are highly recommended for investors seeking stable returns.
This type is a combination of both equity and debt instruments. The risk is highly dependent on the equity-to-debt ratio. It is good for investors seeking diversification through a single portfolio.
This is an enhanced version of a hybrid PMS because it includes assets like gold, Real Estate Investment Trusts (REITs), and Infrastructure Investment Trusts (InvITs).
Given below are the categories of PMS for SEBI PMS registration based on the degree of control and investor involvement-
Discover the benefits of SEBI portfolio manager registration as described below:
Once you’ve obtained a SEBI PMS license, you can increase your reputation and recognition in the securities market, increasing your consumer base and profit generation.
After PMS registration with SEBI, you are entitled to provide services to a vast pool of clients, including high-net-worth entrepreneurs, entities, investors, and related parties.
Once you’re a SEBI-registered portfolio manager, you can demonstrate your credibility through your certificate of registration, placing a sense of trust and confidence in your clients and investors. It is one of the benefits of SEBI portfolio manager registration.
After PMS registration with SEBI, the portfolio manager can take guidance from the regulatory authority on risk mitigation, providing appropriate advice to the investors. This practice instils a sense of responsibility in the manager to their clients.
With a PMS registration with SEBI, you can provide a wide range of services, including investment, asset management, financial planning, and wealth management.
As per SEBI PMS guidelines and regulations, the manager is required to provide continuous monitoring updates, ensuring conflict and fraud-free services to stakeholders and clients.
A SEBI PMS License is mandatory for you if your entity is desirous of being registered as a portfolio manager. Get Enterslice expert assistance to understand the process of PMS registration with SEBI as described below:
Our lawyers will prepare various documents, including net-worth certificate, audited financial statements, MOA, company charter, disclosure agreements, and details of directors & shareholders.
We’ll help you appoint experienced professionals with at least 5 years of experience in the field of requirement.
Once we’ve gathered all the documents, we’ll formally apply with Form A to the Securities and Exchange Board of India (SEBI) with a non-refundable fee of INR 1 lakh.
The regulatory authority will examine your application and documents. Our lawyers will keep a track of the application in case SEBI has any questions or concerns. Accordingly, we’ll send your real-time updates and take effective measures as per the authority’s instructions after taking your consent.
After verifying all your documents, the SEBI will approve your application for PMS registration. You’ll be required to pay INR 10 lakh as the final fee.
Once you’ve made the final payment fee, the authority will verify the same and grant you the certificate of registration, authorizing you as a SEBI-registered portfolio manager.
PMS SEBI registration takes at least 3 to 4 months. The timeline is as follows:
Gather documents like ID proofs, registered business address, MOA, AOA, company charter, NISM-XII A/B certification, and other related documents.
Submit Form A with mandatory documents and fees via the SEBI portal.
The SEBI officials will examine the documents and application for verification.
If everything is as per the SEBO PMS guidelines, then your application will be approved, and you’ll be required to pay the remaining registration fees.
Once the SEBI has verified your payment, it’ll issue the certificate of SEBI PMS registration.
The documents required for SEBI portfolio manager registration are as follows:
ID proofs, including Aadhar, driving license, voter ID, or passport of all directors, shareholders, and partners
Address proof, namely water bills, electricity bills, or lease/rental agreements
Application Form A
Permanent Account Number (PAN)
Goods and Services Tax (GST) number
A copy of the original company registration certificate or partnership deed
Memorandum of Association (MOA)
Articles of association (AOA)
Registered business and correspondence address
A detailed business plan
A board resolution
The last three years' audited financial statements of the entity/organization’s
A certification by a CA on the net worth of the applicants
A certificate on NISM-Series-XXI-A or B Portfolio Managers Certification Examination
Education and qualification of principal officers in portfolio management or related domains
To renew the SEBI PMS registration, all managers must pass the NISM XXI A/XXI B certificate within the last 12 months of the validity’s expiration. Key points to remember about the renewal are as follows:
The PMS SEBI registration is only renewed if you pass the NISM XII-A/XII-B examination. Both certifications are valid for three years from their initial validity. The renewal fee for PMS certification is INR 5 Lakh, and NISM XII-A/XII-B is INR 1500.
If you fail to pass the exam, the subsequent failure to renew the PMS certificate will result in the revocation of the registration. Furthermore, you won’t be able to obtain any commissions, meaning the SEBI will forfeit all of it unless you renew your certifications.
Complete Legal Documents are Mandatory
Updated Disclosure Agreement is Required
NISM Certification for Principal Officer
Audited Statements and Net-Worth Declarations
Scroll down the basic criteria and requirements for obtaining the SEBI PMS license in India as mentioned below:
With Enterslice experts, you can easily keep track of your compliance obligations as a SEBI-registered portfolio manager.
We are the first choice of over 1 lakh founders globally. With 15+ years of experience in the compliance industry, we thrive on the success of our clients. Take a look at the key reasons mentioned below and decide why Enterslice must be your go-to preference for PMS registration with SEBI:
Have a look at the following answers to the most asked questions:
The content, including discretionary and non-discretionary, that must be included for the monthly report is as follows:
The fee structure for SEBI PMS registration includes:
The step-by-step procedure for obtaining the PMS SEBI registration is as follows:
The documents needed for the SEBI-registered portfolio manager application are as follows:
The applicant must have at least INR 5 crore of net worth to obtain a SEBI portfolio management registration.
Only companies and LLPs are eligible to act as a SEBI-registered portfolio manager in India.
In case the SEBI authority rejects your application, then you’ve 45 days from the receipt of the said order to appeal it to the Securities Appellate Tribunal (SAT).
The timeframe for acquiring a SEBI portfolio registration management is as follows:
The various categories of SEBI PMS registration are as follows:
You must submit your annual reports by September of each year.
No, you cannot provide any sort of indicative or guaranteed returns as a portfolio manager to your clients or investors.
A portfolio manager can apply for a change through the SEBI portal. Any such prior approval is valid for six months from the date of the approval, provided the manager applies for a new registration within six months of the previous approval.
No, as a portfolio manager, you’re not allowed to impose a lock-in on any or all of the investments of your clients.
A disclosure document is provided by the manager to every client they deal with. It consists of the following details:
Given below are key pointers on the responsibilities of SEBI portfolio managers:
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