Home Business Market Regulator SEBI Changes Mutual Fund Rules

Market Regulator SEBI Changes Mutual Fund Rules


The new rules will become effective from September 3, SEBI said.

New Delhi:

Sebi has amended mutual fund rules to remove the applicability of the definition of “associate” to sponsors that invest in various companies on behalf of the beneficiaries of insurance policies.

The new rules will become effective from September 3, the Securities and Exchange Board of India (Sebi) said in a notification.

The regulator’s board approved the proposal last month.

“The definition of associate shall not be applicable to such sponsors, which invest in various companies on behalf of the beneficiaries of insurance policies or such other schemes,” the regulator said.

Under the rules, associate includes a person who directly or indirectly, by himself, or in combination with relatives, exercises control over the Asset Management Company (AMC) or the trustee, among others.

At present, there are 43 mutual fund houses, which together manage assets worth nearly Rs 38 lakh crore. 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

BJP Versus BJP in Madhya Pradesh After Leader’s Criticism Of Brahmins

<!-- -->The video of the BJP leader's controversial remarks is being widely circulated.Bhopal: The BJP, considered to have upset the Brahmins in Uttar...

Disgruntled Taliban Commander Killed While Trying To Flee To Iran

<!-- -->13 years ago, Mawlawi Mahdi Mujahid embraced the Taliban.(File)Kabul: Mawlawi Mahdi Mujahid, a disgruntled Taliban commander, was killed by Taliban border forces...

FIFA World Cup: Ticket sales touch 24.5 lakh mark, more than 5 lakh seats left

Zurich: World Cup ticket sales have reached 2.45 million, FIFA said on Thursday, with more than 500,000 seats still available three months before the...

Babar Azam Slams 8th Fifty-Plus Score In 9 Innings As Pakistan Win | Cricket News

Babar Azam in action against NetherlandsPakistan captain Babar Azam slammed his eighth fifty-plus score in nine innings as he helped his team beat...

Recent Comments

disawar satta king