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SEBI Chairperson, Madhabi Puri Buch has asked AMCs to set up a committee that will act against individuals who do wrong things like front running, mis-selling and misuse of information, said two MF officials. She was speaking at the AMFI AGM held today in Mumbai.
The SEBI Chairperson said that it is necessary to separate bad apples from the good ones for the industry to function smoothly.
Buch applauded the efforts of the MF industry in channelizing household savings in mutual funds through SIPs.
Buch also said that the Indian MF industry has set an example for the world that how the regulator and the industry can work together to ensure business growth and safeguard interests of investors. In fact, some of the measures that were implemented by SEBI are now adopted by the regulator of developed markets to improve transparency and market efficiencies, Buch reportedly said.
