In force from 1 April 2027. The SEBI (Portfolio Managers) Regulations, 2026 were notified on 7 October 2026 and replace the 2020 Regulations from 1 April 2027. Until then, the 2020 Regulations apply.
REGULATION 14 · Chapter V · General obligations and responsibilities of portfolio managers
Code of Conduct
SEBI (Portfolio Managers) Regulations, 2026 · notified 7 October 2026 · in force from 1 April 2027
In plain English
Every portfolio manager follows the Code of Conduct in the Second Schedule.
This note explains the provision; the notified text below is the law.
Regulation 14 as notified
English text of the Gazette notification. Read with any circulars SEBI issues under these Regulations.
The plain-English note is a learning aid. The notified text is the law; check later SEBI circulars.
Meet the expert
CS Prashant Kumar
Company Secretary & Compliance Officer
Global Horizons Capital Advisors (IFSC) Private Limited — an IFSCA-licensed investment banker
Published in The Chartered Accountant (Jun 2025, Jan 2025, Mar 2024) and Chartered Secretary (Aug 2023)
Prashant Kumar is a seasoned Company Secretary and corporate governance strategist with more than 13 years of experience advising large corporates, promoter-led groups and global businesses on compliance, regulatory risk and board governance. In GIFT IFSC, the IFSCA regime is his day job rather than a research topic.