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ARTICLE · 30 OCTOBER 2026

SEBI’s Board Approves Changes To The Regulatory Framework For Accredited Investors

Lakshmikumaran & Sridharan
Lakshmikumaran & Sridharan
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Lakshmikumaran & Sridharan

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India's securities regulator SEBI has approved significant changes to its accredited investor framework, introducing manager-led accreditation and new eligibility pathways based on securities-market assets. The reforms aim to streamline the accreditation process while extending deemed accredited status to all persons resident outside India and implementing look-through provisions for limited liability partnerships.

IndiaFinance and Banking
Vinod Joseph
Vinod Joseph
Zaynali Badami
Zaynali Badami
Janhavi Shandilya
Janhavi Shandilya
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On 13 August 2026, SEBI issued a consultation paper (‘Consultation Paper’) inviting public comments on proposals to modify and improve its current regulatory framework for accredited investors. Pursuant to the Consultation Paper, SEBI’s Board, at a meeting held on 24 September 2026, approved a number of changes to the regulatory framework for accredited investors. Some of the key changes approved by SEBI’s Board are:

Accreditation by Managers

At present, investors are required to obtain an accreditation certificate from an accreditation agency and then complete onboarding with the manager of the alternative investment fund (‘AIF’), specialised investment fund (‘SIF’) or portfolio management service (‘PMS’). After the decision made by SEBI’s Board is implemented, the manager of an AIF, SIF or PMS may determine and record an investor’s accredited status as part of onboarding, or during the tenure of an ongoing scheme. Accreditation by a manager would be valid for three years from

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