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of <h1>SEBI Amends 2003 Regulations to Curb Mis-selling of Mutual Funds, Enhancing Transparency and Investor Protection in Securities Market.</h1> The Securities and Exchange Board of India (SEBI) issued an amendment to the 2003 regulations concerning fraudulent and unfair trade practices in the securities market. Effective upon publication, the amendment introduces a clause addressing the mis-selling of mutual fund units. Mis-selling is defined as selling mutual fund units through false or misleading statements, omitting material facts, concealing risk factors, or failing to ensure the scheme's suitability for the buyer. This amendment aims to enhance transparency and protect investors from deceptive practices in the mutual fund sector.
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