SEBI Circular for enhancing fund governance for Mutual Funds

Feb 08, 2018 | by Avantis RegTech Legal Research Team

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The Securities and Exchange Board of India (SEBI) has issued a circular to make changes in its earlier circular dated November 30, 2017 regarding “Enhancing fund governance for Mutual Funds”. Brief details are as under:

·       SEBI has decided to extend the tenure of independent trustees and independent directors who have held office for 9 years or more as of November 30, 2017 which was of 01 year. Now, it is 02 years and shall be carried out in a phased manned.

·       The circular has also extended the tenure for conducting audit, in case of auditors who have conducted audit of Mutual Fund for 9 or more years, till the end of financial year 2018-19.

[SEBI/HO/IMD/DF2/CIR/P/2018/19 dated February 07, 2018]

Original Circular URL:https://www.sebi.gov.in/legal/circulars/nov-2017/enhancing-fund-governance-for-mutual-funds_36778.html

 

URL: https://www.sebi.gov.in/legal/circulars/feb-2018/enhancing-fund-governance-for-mutual-funds_37737.html


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