PRIM timeline, and what we are still waiting for
From SEBI board approval to go-live on 1 April 2027, and the operating details SEBI has yet to publish.
Last updated 5 November 2026
Timeline
| Date | Event |
|---|---|
| 13 August 2026 | SEBI consults on widening the accredited investor framework |
| 24 September 2026 | SEBI board approves the new Portfolio Managers Regulations, PRIM and accredited investor changes |
| October 2026 | SEBI (Portfolio Managers) Regulations, 2026 notified; AIF regulations amended for accredited investors |
| Expected before April 2027 | SEBI circulars on operating details |
| 1 April 2027 | New regulations, including PRIM, take effect |
Still to be confirmed
The regulations say certain limits and operational details may be specified by SEBI separately. Questions the industry is watching:
- Order placement: through which channels PRIM managers place direct-plan orders
- Custody and reconciliation: arrangements for holding and reconciling mutual fund units
- Reporting: format and frequency of client statements and performance reporting for PRIM approaches
- Transition: how existing portfolio managers with mutual-fund-only strategies move across
- Accreditation evidence: what documents managers must check under manager-led accreditation
We update the regulation tracker as SEBI publishes each item.