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of <h1>Regulation 24 Limits Asset Management Companies to Management and Advisory Roles, Prohibits Acting as Mutual Fund Trustees.</h1> Regulation 24 of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, outlines restrictions on the business activities of asset management companies. They are prohibited from acting as trustees for mutual funds and must limit their operations to management and advisory services for pooled assets, such as offshore, insurance, and pension funds, provided there is no conflict with mutual fund activities. The regulation mandates segregation of activities, adherence to capital adequacy requirements, and transparency in disclosing conflicts of interest. Asset management companies may engage in proprietary trading in the debt segment and must ensure fair treatment of investors across different products.
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