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of <h1>SEBI Mandates Mutual Fund Trustees to Secure Independent Audit and Legal Services; Update Report Format for Compliance.</h1> The Securities and Exchange Board of India (SEBI) issued a circular mandating that trustees of mutual funds maintain continuous arrangements with independent firms for special purpose audits or legal advice as necessary. Trustees must confirm these arrangements in their Half Yearly Trustee Reports to SEBI. The format for these reports has been updated to include compliance with these requirements and any other matters trustees wish to report. The circular is effective immediately, issued under SEBI's regulatory authority to protect investors and regulate the securities market.
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