Sebi launches online platform for portfolio managers, VC funds
What is in news?
Markets regulator Sebi has introduced an online platform for portfolio managers and venture capital funds which will make it convenient for them to do business.
Significance of the move:
The new system would help make it easier for the existing and new market intermediaries to complete their registration and other regulatory filings with Sebi much faster and in a cost-effective way
“All applicants desirous of seeking registration as a portfolio manager are now required to submit their applications on the online system
Besides, the system provides a comprehensive solution for all the regulatory compliance specified under the Sebi’s Portfolio Managers norms.
Further, all Sebi registered venture capital funds are now required to file their reports and submit applications for any request on the online system.
Earlier this month, Sebi announced a portal for eight categories of market intermediaries — stock brokers, sub- brokers, merchant bankers, underwriters, registrar to an issue and share transfer agents, debenture trustees, bankers to an issue and credit rating agency.
What is meant by Venture capital funds?
Venture capital funds are investment funds that manage the money of investors who seek private equity stakes in startup and small- to medium-sized enterprises with strong growth potential. These investments are generally characterized as high-risk/high-return opportunities.
A portfolio manager is a person or group of people responsible for investing a mutual, exchange-traded or closed-end fund’s assets, implementing its investment strategy and managing day-to-day portfolio trading. A portfolio manager is one of the most important factors to consider when looking at fund investing.
The Securities and Exchange Board of India is the regulator for the securities market in India. It was established in the year 1988 and given statutory powers on 30 January 1992 through the SEBI Act, 1992
Agency executive: Ajay Tyagi (Chairman)
Type: Statutory corporation
Founder: Government of India