TaxTMI 
TaxTMI 
Code of conduct and obligations
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....ination, the FME or its directors or partners or other officers shall not be absolved of liability to the scheme or its investors for their acts of commission or omission, while holding such position or office. (d) The Chief Executive Officer (whatever be the designation) of the FME shall ensure that the FME complies with all the provisions of these regulations and the guidelines or circulars issued in relation thereto from time to time and that the investments made by the FME are in the interest of the unit holders and shall also be responsible for the overall risk management function of the FME. (e) The FME shall not appoint any person as key personnel who has been found guilty of any economic offence or involved in viol....
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....nvestment management services or their achievements. (n) The FME shall ensure compliance with the Anti-Money Laundering/ Combating the Financing of Terrorism (AML/CFT) norms as applicable. ^1[(o) The FME shall ensure that all the policies, frameworks, plans, by whatever name called, that are prepared in compliance with these regulations, approval from the Board of Directors or designated partners or trustees, as may be the case, of the FME, or from the appropriate authorised committee or designated senior management official(s) of the FME to whom such powers have been delegated, shall be obtained.] PART B: CODE OF CONDUCT AND OBLIGATIONS OF FIDUCIARIES (DIRECTORS / DESIGNATED PARTNERS / TRUSTEES OF THE FUND) (a) Base....
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....m and accounting; (b) appointed all key personnel; (c) ^2[****] (d) designated a compliance officer who shall be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines, instructions, etc., issued by the Authority or the Central Government and for redressal of investors grievances; (e) ^3[****] (f) obtained, wherever required under these regulations, prior in principle approval from the recognised stock exchange(s) where units are proposed to be listed. ^4[(ixa) ensure before the execution of the agreement with any investor in the scheme, that it has, - (a) appointed auditors to audit its accounts; (b) appointed fund admini....
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.... guidelines issued thereunder. (b) The Principal Officer shall ensure that the funds of the schemes are invested to achieve the objectives of the scheme and in the interest of the investors. (c) Where the Principal Officer has reason to believe that the conduct of business of the FME is not in accordance with these regulations it shall forthwith take such remedial steps as are necessary by it and shall immediately inform the Authority of the violation and the action taken by it. (d) The Principal Officer shall periodically review the investor complaints received and shall ensure immediate redressal of the same by the FME. (e) Principal Officer and Fund Managers shall: (i) abide by the Act, Rules, Regulations, Guidelines....
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.... (f) The KMP designated as compliance officer shall (i) be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines, instructions, etc., issued by the Authority and for redressal of investors grievances immediately. (ii) independently report to the Authority any non-compliance observed by him. PART D: CONFLICT OF INTEREST (a) The FME shall act in a fiduciary capacity towards its investors and shall disclose to the investors, all of interests as and when they arise or seem likely to arise. (b) FME shall establish and implement written policies and procedures to identify, monitor and appropriately mitigate conflicts of interest throughout the scope of business. (c) ....
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....the investment decision of the clients while rendering portfolio management services. (vii) not make any statement or indulge in any act, practice or unfair competition, which is likely to be harmful to the interests of other portfolio managers or is likely to place such other portfolio managers in a disadvantageous position in relation to the portfolio manager himself, while competing for or executing any assignment. (viii) ensure that the investors are provided with true and adequate information without making any misguiding or exaggerated claims and are made aware of attendant risks before any investment decision is taken by them; (ix) render the best possible advice to the client having regard to the client....