FME Regulatory Intelligence, Learning & Practice · IFSCA (Fund Management) Regulations, 2025
Portfolio Management Agreement.

Regulation 75

Portfolio Management Agreement.

IFSCA (Fund Management) Regulations, 2025No change in 2026Chapter VI · Other Fund Management Activities

Chapter VI · Other Fund Management Activities

Regulation 75 – Portfolio Management Agreement.
High importance about 3 min

Portfolio Management Services: Running PMS — agreements, reporting, investment restrictions and advisory services.

1

In plain English

A PMS relationship requires a written agreement setting out the parties' mutual rights, liabilities and obligations, including objectives, risk factors, fees and contract period. The client may withdraw funds or securities before maturity on termination, on suspension/cancellation of the FME's registration, or on the FME's bankruptcy or liquidation.

In plain English
2

The rule, in its own words

Read the exact text of Regulation 75
75. (1) A FME shall enter into a written agreement with the portfolio management client that clearly defines the inter se relationship and sets out their mutual rights, liabilities and obligations relating to management of portfolio including details pertaining to investment objectives, risk factors, terms of fees, period of the contract, etc. (2) Notwithstanding anything contained in the agreement between the FME and the client, the funds or securities can be withdrawn by the client before the maturity of the contract under the following circumstances, namely- (a) voluntary or compulsory termination of portfolio management services by the FME or the client; (b) suspension or cancellation of the certificate of registration of the FME by the Authority; or (c) bankruptcy or liquidation of the FME.
Statutory text — Principal Regulations, 2025 (as amended to 30 January 2026), consolidated where amended. The notified Gazette text prevails. Tap a highlighted word for how it functions.
3

Exceptions and conditions

Taken from the wording of this provision — the carve-outs and conditions worth reading closely.

(2) Notwithstanding anything contained in the agreement between the FME and the client, the funds or securities can be withdrawn by the client before the maturity of the contract under the following circumstances, namely-
4

What this means in practice

Compliance actions
Applies to
FME offering PMS
Frequency
Per client
Evidence
Signed PMS agreement
5

Where it connects

Read alongside

6

Check yourself

Quiz Centre

Test yourself on Regulation 75

4 questions in the unified bank test this regulation. Each explains every option and cites the provision.

A PMS relationship requires what?
7

Your notes

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Portfolio Management Services
Regulation 75 Chapter VI · Part A High · about 3 min