Sebi decides to decentralise portfolio managers registration work

Markets regulator Sebi on Tuesday said it has decided to decentralise work related to registration of portfolio managers.

It has been decided that the processing of registration applications for portfolio managers received on or after Wednesday (August 5) will be decentralised and delegated to the respective regional offices or head office in Mumbai, based on the registered address of the applicant, Sebi said in a statement.

It added that applicants should now file all communications related to their registration applications for portfolio managers with the respective regional office of Sebi.

Currently, applicants submit their registration applications for portfolio managers through the Sebi intermediary portal, and these applications are processed at the regulator's head office.

Sebi has four regional offices -- eastern (Kolkata), northern (Delhi), southern (Chennai) and western (Ahmedabad).