SEBI’s circular dated 10th February 2012 modified the SEBI (Portfolio managers) Regulations 1993 (“PM Regulations”) to disallow pooling of investor funds. This was a fundamental change brought about in the PM regulations which paved the way for SEBI (Alternative Investment Funds) Regulations 2012 (“AIF Regulations”). In this article we attempt to highlight a few salient differences between PM Regulations and AIF Regulations.
AIF-vs.-PMS-July-2013
.pdf
Download PDF • 280KB