Maintenance of books of accounts, records, etc

(1) Every portfolio manager shall keep and maintain the following books of accounts, records and documents namely– (a) a copy of balance sheet at the end of each accounting period; (b) a copy of the profit and loss account for each accounting period; (c) a copy of the auditor’s report on the accounts for each accounting period; (d) a statement of financial position; and (e) such other documents as may be specified by the Board. (2) Records in support of every investment transaction or recommendation which will indicate the data, facts and opinion leading to that investment decision shall be maintained by the Principal Officer either in physical or digital form. (3) Every portfolio manager shall intimate to the Board the place and address where the books of accounts, records and documents are maintained. (4) In addition to sub–regulation (1), every portfolio manager shall, after the end of each accounting period, furnish to the Board copies of the balance sheet, profit and loss account and such other documents for the preceding five accounting years as and when required by the Board.