Business

Sebi issued forty seven warning letters to open-end investment company homes in 2018-19

Sebi issued forty seven warning letters to open-end investment company homes within the last twelvemonth, and also the watchdog in consultation with the central government is examining varied problems associated with mutual funds on a nonstop basis.

In a written reply to the Lok Sabha, Union minister Anurag Thakur aforesaid that Sebi, in its regulative oversight, has noticed varied irregularities with relevance the functioning of mutual funds like failure to spot and acceptable all the expenses in individual schemes as per regulative necessities."During 2018-19, forty seven warning letters and twenty four deficiency letters were issued to mutual funds/ quality Management corporations and 2 warning letters were issued to trustees of mutual funds whereas assessment proceedings were initiated against 5 AMCs, four trustee corporations and one corporate executive of AMC," he said.The Minister of State for Finance additionally aforesaid that Sebi additionally reviews the regulative mechanism to boost transparency and disclosures, regulative oversight and scale back the danger for investors, among others.

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