Mutual funds: SEBI master circular consolidates filing, disclosure, governance, valuation, risk management and investor protection rules. SEBI's Master Circular (as at Sept 14, 2016) consolidates mutual fund regulation: SIDs/SAIs and KIM formats, filing and update procedures, timelines and SEBI observation validity; governance rules including independent trustees, audit/valuation committees and systems audits; mandatory disclosures and reporting (monthly portfolios, half yearly financials, trustee reports, remuneration, distributor commission); operational rules on NFO periods, direct plans, single plan expense structures, minimum AUM and investor concentration limits; constrained conditions and procedures for imposing restriction on redemption; and standardised valuation, NAV publication and risk management/stress testing requirements.
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Mutual funds: SEBI master circular consolidates filing, disclosure, governance, valuation, risk management and investor protection rules.
SEBI's Master Circular (as at Sept 14, 2016) consolidates mutual fund regulation: SIDs/SAIs and KIM formats, filing and update procedures, timelines and SEBI observation validity; governance rules including independent trustees, audit/valuation committees and systems audits; mandatory disclosures and reporting (monthly portfolios, half yearly financials, trustee reports, remuneration, distributor commission); operational rules on NFO periods, direct plans, single plan expense structures, minimum AUM and investor concentration limits; constrained conditions and procedures for imposing restriction on redemption; and standardised valuation, NAV publication and risk management/stress testing requirements.
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