Section 17 in Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993
17. 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 auditors report on the accounts for each accounting period;(d)a statement of financial position and;(e)records in support of every investment transaction or recommendation which will indicate the data, facts and opinion leading to that investment decision.(2)Every portfolio manager shall intimate to the Board the place where the books of accounts, records and documents are maintained.(3)Without prejudice 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 as are mentioned in any of the regulations under this chapter for any other preceding five accounting years when required by the Board.
