Securities And Exchange Board Of India - Subsection
Section 16(4) in Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993
(4)[ The portfolio manager shall not while dealing with clients' funds indulge in speculative transactions that is, he shall not enter into any transaction for purchase or sale of any security which is periodically or ultimately settled otherwise than by actual delivery or transfer of security except the transactions in derivatives.] [Substituted by the SEBI (Portfolio Managers) (Amendment) Regulations, 2002, w.e.f. 11-10-2002.]
