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Portfolio managers: Sebi revises process

Portfolio managers: Sebi revises process

The Securities and Exchange Board of India (Sebi) on Thursday streamlined the process of providing its approval to the proposed change in control of a portfolio manager.

The new guidelines will be applicable from June 15, Sebi said in a circular.

According to the regulator, an online application needs to be made to the markets regulator for prior approval through the Sebi Intermediary Portal. The prior approval granted by the regulator will be valid for a period of six months.

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