Portfolio Manager Now Requires New Client’s Separate Signature on Fee Annexure With Handwritten Confirmation | SEBI
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- Last Updated on 4 May, 2024
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Circular No. SEBI/HO/IMD/IMD-PoD-1/P/CIR/2024/35, Dated: 02.05.2024
SEBI has notified amendments to facilitate ease in the digital onboarding process for clients and enhance transparency for Portfolio Managers. While onboarding a client, Portfolio Managers must ensure that the client understands the fee and charge structure.
For physical & digital on-boarding, a new client must provide a separate signature on the fee annexure, along with acknowledgement either by handwritten note or by electronically typing or using a finger or stylus pen.
Further, the standard procedure for on-boarding client via digital mode must be specified by APMI, in consultation with the SEBI. The provisions shall be applicable from October 1, 2024.
Click Here To Read The Full Circular
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