SEBI Eases PMS Rules, Allows IPO & Unlisted Investments | Tuhin Kanta Pandey

SEBI has unveiled a major overhaul of the Portfolio Managers Regulations, with Chairman Tuhin Kanta Pandey announcing significant changes aimed at simplifying the framework and expanding investment avenues. The revised regulations reduce the size of the rulebook by 53% and cut the word count by 42%, removing several redundant provisions. The new framework allows portfolio managers to invest in IPOs and primary debt market issuances, while also enabling investments in unlisted securities and foreign securities under discretionary and non-discretionary PMS. SEBI has also introduced a PMS route for investing in PMMFs, provided greater flexibility for derivatives investments and enabled global fund management through portfolio manager registration. The regulator also outlined several ease-of-compliance measures as part of the revamped framework.