https://www.taxtmi.com/circulars?id=65232 Regulatory norms require Silver ETFs to replicate returns of physical silver by investing the majority of net assets in silver and silver related instruments, with physical metal meeting prescribed good delivery standards and valuation rules; derivative exposure is permitted under an AMC board approved policy and within cumulative exposure limits. NAV calculation, daily disclosure, benchmarking to a silver spot reference, disclosure and monitoring of tracking error and tracking difference, market making arrangements for liquidity, dedicated fund manager requirements, and half yearly auditor verification of physical silver are mandated, with parallel norms specified for Gold ETFs. en-us Wed, 24 Nov 2021 00:00:00 +0530 Thu, 25 Nov 2021 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65232 Regulatory norms require Silver ETFs to replicate returns of physical silver by investing the majority of net assets in silver and silver related instruments, with physical metal meeting prescribed good delivery standards and valuation rules; derivative exposure is permitted under an AMC board approved policy and within cumulative exposure limits. NAV calculation, daily disclosure, benchmarking to a silver spot reference, disclosure and monitoring of tracking error and tracking difference, market making arrangements for liquidity, dedicated fund manager requirements, and half yearly auditor verification of physical silver are mandated, with parallel norms specified for Gold ETFs. Circulars SEBI Wed, 24 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65232