The Securities and Exchange Board of India (“SEBI”), in the exercise of its powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 33 and Regulation 43 of SEBI (Portfolio Managers) Regulations, 2020 vide Circular No. SEBI/HO/IMD/IMD-PoD-1/P/CIR/2025/39,[1] dated March 28, 2025, issued the extended timelines for the submission of offsite inspection data. The provisions laid hereunder shall come into effect immediately.
The key highlights of this circular are as follows:
- Clause 5.4.3 of the Master Circular for Portfolio Managers dated June 07, 2024, (“Master Circular”) previously required Portfolio Managers to submit client data quarterly within 10 (ten) calendar days.
- Keeping in view the industry feedback and to facilitate ease of business, Clause 5.4.3 and Clause 5.4.4 of the Master Circular has been modified accordingly:
- SEBI has extended the submission timeline to 15 (fifteen) calendar days from the end of the quarter.
- Further, the day-wise data must be furnished under the headings “Client Folio AUM” and “Client Holding Master.”
[1]https://www.sebi.gov.in/legal/circulars/mar-2025/extension-of-timelines-for-submission-of-offsite-inspection-data_93101.html