Section 23A in Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993
23A. [ Appointment of compliance officer. [Inserted by the SEBI (Investment Advice by Intermediaries) (Amendment) Regulations, 2001, w.e.f. 29-05- 2001.]
(1)Every portfolio manager shall appoint a compliance officer who shall be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines, instructions etc., issued by the Board or the Central Government and for redressal of investors' grievances.(2)The compliance officer shall immediately and independently report to the Board any non-compliance observed by him.]
