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of <h1>SEBI Amends Mutual Funds Regulations: Bans Asset Managers from Serving as Trustees to Prevent Conflicts of Interest.</h1> The Securities and Exchange Board of India (SEBI) issued the Fifth Amendment to the Mutual Funds Regulations, 1996, effective upon publication in the Official Gazette. The amendment modifies regulation 16, prohibiting asset management companies and their directors, officers, or employees from serving as trustees of any mutual fund. Additionally, individuals appointed as trustees for one mutual fund cannot serve as trustees for another. Mutual funds not in compliance with these provisions at the commencement of this amendment must comply within three months. This regulation aims to enhance governance and prevent conflicts of interest in mutual fund management.
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