The Financial Planning Supervisory Foundation (FPSF) has moved the Supreme Court against markets regulator Sebi’s in-principle approval to the Institution for Mutual Fund Intermediaries (Imfi) to act as a self-regulatory organisation (SRO) for distributors of mutual fund products.
A bench headed by justice Ranjan Gogoi last week sought response from the Sebi and Imfi, promoted by mutual fund industry body Association of Mutual Funds in India (Amfi), a grouping of all fund houses in the country and entrusted with the responsibility of distributor registrations.
