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MF News SEBI asks AMFI to ensure adherence to the best practices circular

SEBI asks AMFI to ensure adherence to the best practices circular

SEBI has learnt that a few AMCs are not adhering to AMFI best practices guidelines.
Nishant Patnaik Jul 13, 2018

SEBI has asked AMFI to ensure adherence to the best practices circular in letter and spirit, confirm two AMFI board members.

In fact, the market regulator has asked AMFI to chalk out a roadmap to ensure that fund houses adhere to the best practices circular.

A CEO of a large fund house said that AMFI would come out with another best practice circular pushing fund houses to follow such guidelines in letter and spirit. AMFI will take stringent action against those who violates such norms, he added.

SEBI has learnt that a few AMCs are not adhering to AMFI best practices guidelines. In fact, a few fund houses, which are complying with best practices guidelines on upfront commission in spirit, said that even they would back out if other members flout the norms, said the CEO.

SEBI has also asked AMFI to plan a road map to make MF Utility popular among distributors and investors.

 

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3 Comments
Dilip P.Joshi · 1 month ago
SEBI's guidelines for "complying with best practices guidelines on upfront commission in spirit.."are most welcome !
M.faishal · 1 month ago
Welcome SEBI instructions to amfi for Mfu aware among distributor and investor but why not intergreted software for distributor and investor to protect investor data.
PRASHANT · 1 month ago
Best practises meaning feed on distributor commissions without reducing their expenses so earn and keep more margin for themselves.

Shame shame shame
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