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Mutual funds: SEBI master circular consolidates offer document, disclosure, governance, valuation, redemption and distribution rules. The Master Circular compiles SEBI circulars (effective as of 05 June 2018) governing mutual funds, prescribing operative requirements for offer documents (SID, SAI, KIM) including filing, format, updates and investor communications; detailed disclosure and reporting obligations (portfolio uploads, reports, AUM and commission disclosures); governance and risk frameworks (trustee/independent director tenure, audit/valuation committees, systems audits, stress testing, in house credit assessment); valuation and NAV methodologies and cut off/timestamp rules; conditions and procedure for restriction on redemption; and distribution, intermediary due diligence, certification and transaction mechanics including dematerialisation and AML/KYC requirements.
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Provisions expressly mentioned in the judgment/order text.
Mutual funds: SEBI master circular consolidates offer document, disclosure, governance, valuation, redemption and distribution rules.
The Master Circular compiles SEBI circulars (effective as of 05 June 2018) governing mutual funds, prescribing operative requirements for offer documents (SID, SAI, KIM) including filing, format, updates and investor communications; detailed disclosure and reporting obligations (portfolio uploads, reports, AUM and commission disclosures); governance and risk frameworks (trustee/independent director tenure, audit/valuation committees, systems audits, stress testing, in house credit assessment); valuation and NAV methodologies and cut off/timestamp rules; conditions and procedure for restriction on redemption; and distribution, intermediary due diligence, certification and transaction mechanics including dematerialisation and AML/KYC requirements.
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