SEBI Board has approved sweeping reforms for PMS, settlement mechanisms, REITs, InvITs, FPIs, and accredited investors to enhance market depth and compliance.
SEBI Unveils Comprehensive Market Reforms
The SEBI Board has approved a suite of reforms targeting portfolio management services (PMS), settlement cycles, real estate investment trusts (REITs), infrastructure investment trusts (InvITs), foreign portfolio investors (FPIs), and accredited investors.
Key measures include standardization of PMS fee structures, enhancement of REIT/InvIT governance norms, relaxation of FPI sub-account norms, and strengthening of investor accreditation criteria. The reforms also aim to shorten settlement cycles and improve default management.
These changes signal a push toward institutionalizing India's capital markets. Practitioners must review client advisory frameworks, especially in alternative investment vehicles. Compliance systems for fund managers, trustees, and brokers will need timely upgrades to meet new reporting and due diligence mandates.
