Asset management company investment obligation: Board may suspend scheme launches and forfeit invested amounts for regulatory breaches. A new obligation requires the asset management company to invest prescribed amounts in its schemes based on scheme risk as specified by the Board. Sub regulation (4) of regulation 28 is deleted. Regulation 76 is replaced to empower the Board to initiate actions under the Act and Chapter VIA and to order measures including suspension of scheme launches and forfeiture of AMC invested amounts under the new obligation, subject to an opportunity of hearing.
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Provisions expressly mentioned in the judgment/order text.
Asset management company investment obligation: Board may suspend scheme launches and forfeit invested amounts for regulatory breaches.
A new obligation requires the asset management company to invest prescribed amounts in its schemes based on scheme risk as specified by the Board. Sub regulation (4) of regulation 28 is deleted. Regulation 76 is replaced to empower the Board to initiate actions under the Act and Chapter VIA and to order measures including suspension of scheme launches and forfeiture of AMC invested amounts under the new obligation, subject to an opportunity of hearing.
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