The Securities and Exchange Board of India or Sebi on Wednesday said the market regulator has settled a case against JP Morgan Mutual Fund through so-called consent mechanism for a fee of Rs91.8 lakh and on the condition that the fund house will debar itself from issuing any new scheme for a year.
On 10 March, 2015, Sebi had initiated adjudication proceedings against JP Morgan mutual fund for alleged violations of certain mutual fund norms with regards to the launch of JPMorgan India Fixed Maturity Plan - Series 39 in 2014 and certain statements made by the fund house regarding the scheme then.
