Mumbai, Sept. 30 -- Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Wednesday said regulation for portfolio managers must evolve with the industry's growth, with the market regulator seeking to reduce unnecessary compliance friction while enabling innovation without compromising investor protection.

"As an industry matures, regulation too must mature," Pandey said at the APMI Annual Conference 2026 in Mumbai. "Regulation cannot remain focused only on prescribing safeguards, it must also enable innovation, remove unnecessary friction, and make compliance easier without compromising investor protection," he added.

Pandey said this approach had guided SEBI's comprehensive review of portfolio managers' regulatio...