diff --git a/pallets/common/src/traits/portfolio.rs b/pallets/common/src/traits/portfolio.rs
index bbad3a0f2..5bc5b88f4 100644
--- a/pallets/common/src/traits/portfolio.rs
+++ b/pallets/common/src/traits/portfolio.rs
@@ -201,7 +201,25 @@ decl_event! {
             IdentityId,
             PortfolioId,
             AssetId
-        )
+        ),
+        /// Allow another identity to create portfolios.
+        ///
+        /// # Parameters
+        /// * [`IdentityId`] of the caller.
+        /// * [`IdentityId`] allowed to create portfolios.
+        AllowIdentityToCreatePortfolios(
+            IdentityId,
+            IdentityId,
+        ),
+        /// Revoke another identities permission to create portfolios.
+        ///
+        /// # Parameters
+        /// * [`IdentityId`] of the caller.
+        /// * [`IdentityId`] permissions to create portfolios is revoked.
+        RevokeCreatePortfoliosPermission(
+            IdentityId,
+            IdentityId,
+        ),
     }
 }
 
diff --git a/pallets/portfolio/src/lib.rs b/pallets/portfolio/src/lib.rs
index 6c6600ff5..910c32f8e 100644
--- a/pallets/portfolio/src/lib.rs
+++ b/pallets/portfolio/src/lib.rs
@@ -864,6 +864,10 @@ impl<T: Config> Module<T> {
             Error::<T>::SelfAdditionNotAllowed
         );
         AllowedCustodians::insert(callers_did, trusted_identity, true);
+        Self::deposit_event(Event::AllowIdentityToCreatePortfolios(
+            callers_did,
+            trusted_identity,
+        ));
         Ok(())
     }
 
@@ -873,6 +877,10 @@ impl<T: Config> Module<T> {
     ) -> DispatchResult {
         let callers_did = Identity::<T>::ensure_perms(origin)?;
         AllowedCustodians::remove(callers_did, identity);
+        Self::deposit_event(Event::RevokeCreatePortfoliosPermission(
+            callers_did,
+            identity,
+        ));
         Ok(())
     }