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Securities and Exchange Board of India (SEBI) and Mutual Funds

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Go Green initiative in Mutual Funds

On March 28, 2018, SEBI vide PR No. 09/2018 said:

With electronic mode of communication being the preferred mode of communication besides being environment friendly, the Board approved certain proposals, inter-alia, to dispense with the requirement of publication of daily NAV, sale / repurchase prices in newspapers and of sending (i) physical copies of scheme annual reports or abridged summary to all the investors whose email addresses are not available and (ii) statement of scheme portfolios to unit holders on half-yearly basis. Instead, the aforesaid details will be placed on the websites of AMFI and Mutual Funds. Further, Mutual Funds shall publish an advertisement informing about hosting of the annual report and statement of scheme portfolios on the websites and shall provide the relevant information to investors upon request.

SEBI requests SC to allow them to start afresh on SRO for MF distributors

SEBI has requested the Supreme Court to allow them to start afresh the appointment on self regulatory organization (SRO) of mutual fund distributors. The court has reportedly asked the market regulator to submit an application explaining to them why there is a need to introduce an SRO for the mutual fund distributors. In the latest hearing on September 20, the apex court said, “SEBI would like to proceed in the matter afresh in view of the period of time that has elapsed in the meantime (three years) and many other entities have become eligible in the meantime. The SEBI is permitted to bring the aforesaid developments on record and file an application with the aforesaid prayer(s), which would be considered once such an application is filed. Registry is directed to list the application immediately after such an application is filed.” As the name suggests, SRO or self regulatory organisation for mutual fund distributors will be responsible for micro-regulations of its members (MF distributors). The SRO will spread awareness about mutual funds among people, educate and train distributors and conduct screening test for them.

Source: Wise Money dated 2 - 5 October 2017

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