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of <h1>SEBI Circular Sets New Tenure Limits for Mutual Fund Trustees, Directors, and Auditors to Boost Governance.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) outlines new governance measures for mutual funds. It mandates that independent trustees and directors serve a maximum of two terms, each not exceeding five consecutive years, with a three-year cooling-off period required before reappointment. Existing trustees and directors with less than nine years of service may continue until the end of their term, while those with nine years or more may serve an additional year. Similar tenure limits apply to auditors, who must also undergo a five-year cooling-off period before reappointment. These measures aim to enhance fund governance and protect investor interests.
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