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Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) (Amendment) 2012 - LAD-NRO/GN/2012-13/25/5455 - SEBI
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Mis-selling of mutual fund units: newly defined prohibited practice covering false statements, concealment and unsuitability. Amendment adds mis-selling of units of a mutual fund scheme as a prohibited trade practice, defining mis-selling as sale of units by any person, directly or indirectly, by making false or misleading statements, concealing or omitting material facts or associated risk factors, or not taking reasonable care to ensure suitability of the scheme to the buyer.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Mis-selling of mutual fund units: newly defined prohibited practice covering false statements, concealment and unsuitability.
Amendment adds mis-selling of units of a mutual fund scheme as a prohibited trade practice, defining mis-selling as sale of units by any person, directly or indirectly, by making false or misleading statements, concealing or omitting material facts or associated risk factors, or not taking reasonable care to ensure suitability of the scheme to the buyer.
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