SEBI directions for facilitating collective oversight of distributors for Portfolio Management Services (PMS) through APMI

SEBI, in order to facilitate collective oversight of PMS distributors at the industry level, has decided that any person or entity involved in the distribution of portfolio management services shall obtain registration with APMI.

Portfolio Managers shall ensure that any person or entity engaged in the distribution of its services has obtained registration with APMI, in accordance with the criteria laid down by APMI. This circular shall come into effect from January 01, 2025. APMI shall issue the criteria for registration of distributors by July 01, 2024.