SEBI Grade A Current Affairs — 28 May 2026

SEBI issued an inspection order against First Global Finance Private Limited, a registered Portfolio Manager, on May 26, 2026. The order follows regulatory inspection findings and is issued by the Enforcement Department/CGM under quasi-judicial authority. Portfolio Managers are SEBI-regulated entities managing client portfolios with minimum investment thresholds. This enforcement action reflects SEBI's ongoing oversight of capital market intermediaries and compliance monitoring of registered investment advisors.

Portfolio Managers are SEBI-regulated intermediaries under SEBI (Portfolio Managers) Regulations, 2020, managing client portfolios with discretionary powers. They require minimum net worth of ₹5 crore and client minimum investment of ₹50 lakh. SEBI conducts regular inspections to ensure compliance with regulations, client protection norms, and risk management practices. The inspection order against First Global Finance Private Limited demonstrates SEBI's enforcement mechanism through its quasi-judicial authorities - Enforcement Department (ED) and Chief General Manager (CGM). These authorities can issue show-cause notices, conduct hearings, and impose penalties including monetary fines, suspension, or cancellation of registration. Such orders are part of SEBI's supervisory framework ensuring intermediary compliance with disclosure requirements, client fund segregation, risk profiling, and investment advisory standards. The May 2026 timing aligns with SEBI's annual inspection cycle for portfolio managers. Non-compliance can result in penalties up to ₹25 crore under SEBI Act provisions. This case highlights the regulator's focus on maintaining market integrity and investor protection in the rapidly growing portfolio management services sector.