Ker. HC: Gain from Property Kept for Investment Purpose to be Taxed Under Capital Gains  ||  Cal. HC: Arbitrator Relying on Unverified Evidence is Contrary to Fundamental Policy of Indian Law  ||  Delhi High Court: Educational Institutions Strong Pillar of Democracy  ||  Bombay HC: If Ignorance Was an Excuse Every Accused Would Claim Unawareness of Law  ||  Calcutta High Court: Warrant of Arrest Should Not be Issued Mechanically  ||  Del. HC: Information Seeker has No Locus Standi in Penalty Proceedings Under Section 20 of RTI Act  ||  Ker. HC: Response Sought from Govt. Regarding Tourism Dept. Vehicles Carrying Dignitaries  ||  HP HC: Adultery Not a Ground to Automatically Disqualify Divorced Wife from Receiving Maintenance  ||  Ker. HC: HRC Being Quasi Judicial Body is Duty Bound to Comply With Principles of Natural Justice  ||  Del. HC: Independent Assessment of Award in Appeal u/s 37 of A&C Act Cannot be Undertaken by Courts    

Disclosure requirement for Asset Management Companies- (Securities and Exchange Board of India) (25 Aug 2022)

MANU/SMFD/0018/2022

Capital Market

1. SEBI has amended the definition of "associate" as per clause (c) of sub-regulation (1) of regulation 2 of SEBI (Mutual Funds) Regulations, 1996 vide Gazette Notification No. SEBI/LAD-NRO/GN/2022/92 dated August 03, 2022. The revised definition of Associate is as under:

""associate" includes a person,-

(i) who directly or indirectly, by himself, or in combination with relatives, exercises control over the asset management company or the trustee or the sponsor, as the case may be, or

(ii) in respect of whom the asset management company or the trustee or the sponsor, directly or indirectly, by itself, or in combination with other persons exercises a control, or

(iii) whose director except an independent director, officer or employee is a director, officer or employee of the asset management company:

Provided that the above definition of associate shall not be applicable to such sponsors, which invest in various companies on behalf of the beneficiaries of insurance policies or such other schemes as may be specified by the Board from time to time.

2. Consequent to the above amendment, it has been decided that AMCs shall ensure scheme wise disclosure of investments, as on the last day of each quarter, in securities of such entities that are excluded from the definition of associate.

3. Disclosure of Investment shall include ISIN wise value of investment and value as percentage of AUM of scheme. Such disclosure shall be made on the websites of respective AMCs and on the website of AMFI, within one month from the close of each quarter.

4. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act 1992, read with the provision of Regulation 77 of SEBI (Mutual Funds) Regulation, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Tags : DISCLOSURE REQUIREMENT   ASSET MANAGEMENT  

Share :        
""""associate""... For read more news from newsroom.manupatra.com"data-action="share/whatsapp/share" class="ic_wtsp-grid">

Disclaimer | Copyright 2024 - All Rights Reserved