Sebi launches online platform for portfolio managers, VC funds

New Delhi: Markets regulator Sebi on Tuesday said it has introduced an online platform for portfolio managers and venture capital funds which will make it convenient for them to do business.

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, Sebi said in a statement.

"All applicants desirous of seeking registration as a portfolio manager are now required to submit their applications on the online system," Sebi said.

Besides, the system provides a comprehensive solution for all the regulatory compliances 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.

The intermediary portal would be operational for depository participants from May 31, Sebi had said.