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Advisory Services

Regulation 80

Advisory Services

IFSCA (Fund Management) Regulations, 2025Amended in 2026Chapter VI · Other Fund Management Activities

Chapter VI · Other Fund Management Activities

Regulation 80 – Advisory Services
Amended 2026 High importance about 3 min

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

1

In plain English

An FME may provide advisory services as part of PMS only if it complies with the relevant provisions and code of conduct of the (Capital Market Intermediaries) Regulations, and the advisory is at least USD 75,000. The Second Amendment updated the cross-reference from the CMI Regulations, 2021 to the CMI Regulations, 2025 (and, for clause (a), to Regulation 34 of the CMI Regulations, 2025).

In plain English
USD 75,000
PMS advisory — minimum portfolio
2

The rule, in its own words

Read the exact text of Regulation 80
80. A FME as part of its portfolio management services shall enter into an agreement with prospective clients for providing advisory services, provided: (a) 43[it complies with regulation 34 of the IFSCA (Capital Market Intermediaries) Regulations, 2025;] (b) it complies with the code of conduct under the 44[IFSCA (Capital Market Intermediaries) Regulations, 2025]; and (c) Advisory services are for a portfolio not less than USD 75,000 in value.
Statutory text — Principal Regulations, 2025, consolidated as amended up to 10 September 2026 (including the Second Amendment, 2026). The notified Gazette text prevails. Tap a highlighted word for how it functions.
3

What this means in practice

Practical effect
The cross-reference now points to the current CMI Regulations, 2025; relying on the repealed 2021 reference would apply the wrong compliance standard.
Compliance actions
Applies to
FME offering PMS (advisory)
Frequency
Per client
Evidence
Advisory agreement; CMI-compliance mapping
4

What changed in 2026

Advisory-services eligibility condition updated to reference compliance with Regulation 34 of the IFSCA (Capital Market Intermediaries) Regulations, 2025 (replacing the prior 2021 regulations reference).

Practical effect
Cross-reference update to the current Capital Market Intermediaries regulations.
What to do
Confirm advisory-services compliance is being tracked against the 2025 CMI Regulations, Reg 34.

Reference to "IFSCA (Capital Market Intermediaries) Regulations, 2021" replaced with "...Regulations, 2025" throughout clause (b).

Practical effect
Same cross-reference update as item 40.
What to do
Update internal references from the 2021 to the 2025 CMI Regulations.
5

The numbers that matter

RequirementThresholdOn crossing
PMS advisory — minimum portfolioUSD 75,000Advisory only above the floor; comply with CMI Regs 2025
6

Where it connects

Refers to / depends on

Read alongside

7

Check yourself

Quiz Centre

Test yourself on Regulation 80

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

After the Second Amendment, which regulations govern an FME's PMS advisory services?
8

Your notes

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Regulation 80 Chapter VI · Part A Amended 2026 High · about 3 min