Portfolio manager compliance failures attract action under securities laws and any other applicable law in force. Portfolio managers who contravene the Act, rules, regulations, or circulars and guidelines issued under them are liable to action available under ... Summary
Portfolio manager compliance failures attract action under securities laws and any other applicable law in force.
Portfolio managers who contravene the Act, rules, regulations, or circulars and guidelines issued under them are liable to action available under securities laws or any other law in force. Regulation 42 places this liability within the procedure for action in case of default and preserves enforcement consequences authorised by applicable securities and other laws. Liability arises from such non-compliance and is not confined to a single enforcement framework.
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