If you invest in Mutual Funds, read this story carefully. Market regulator Securities and Exchange Board of India (SEBI) has decided to make fund managers more accountable in a bid to make investments in mutual funds more reliable, for which SEBI will issue code of conduct. In addition, SEBI has further tightened the disclosure rules on forensic scrutiny of accounts of listed companies. SEBI has also strengthened the role of debenture trustee and amended insider trading rules.
Accountability of fund managers, dealers to increase:
SEBI has approved amendments to mutual fund regulations to bring in a code of conduct for the company’s chief investment officer and dealers, including fund managers of asset management company (AMCs). It will be the responsibility of the CEO of the company to see whether the code of conduct is being followed. At present, AMC and trustees are…
