Code of Conduct compliance required for fund managers and dealers; quarterly self certification and best execution obligations imposed. Amendments add PART A and PART B to the Fifth Schedule: PART A applies to AMCs and trustees; PART B prescribes a Code of Conduct for Fund Managers and Dealers that requires quarterly self certification, best execution obligations, conflict of interest safeguards, recording of investment decisions, transparent recorded communications during market hours, and prohibitions on market manipulative practices. The CEO must ensure systems to implement the code and report breaches to the board and trustees. AMCs may become proprietary trading members and self clearing members in the debt segment to clear and settle trades for their schemes.
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Provisions expressly mentioned in the judgment/order text.
Code of Conduct compliance required for fund managers and dealers; quarterly self certification and best execution obligations imposed.
Amendments add PART A and PART B to the Fifth Schedule: PART A applies to AMCs and trustees; PART B prescribes a Code of Conduct for Fund Managers and Dealers that requires quarterly self certification, best execution obligations, conflict of interest safeguards, recording of investment decisions, transparent recorded communications during market hours, and prohibitions on market manipulative practices. The CEO must ensure systems to implement the code and report breaches to the board and trustees. AMCs may become proprietary trading members and self clearing members in the debt segment to clear and settle trades for their schemes.
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