SEBI extends the date of implementation of Stewardship Code

Mar 31, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Securities and Exchange Board of India (SEBI) on March 30, 2020, has extended the date of implementation of Stewardship Code for all Mutual Funds and all categories of Alternative Investment Funds (AIFs) due to COVID-19 pandemic. SEBI vide its Circular no. CIR/CFD/CMD1/168/2019 dated December 24, 2019 had introduced a Stewardship Code for all Mutual Funds and all categories of AIFs which was about to come into effect from April 01, 2020. MCA had received several representations from the Association of Mutual Funds of India (AMFI) and the Indian Association of Alternative Investment Funds (IAAIF) requesting an extension of the deadline for implementation of the Code because of the current situation resulting from the CoVID19 pandemic.

Thus, MCA has decided to extend the implementation of the aforesaid circular on Stewardship Code to July 01, 2020.

[SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/55]


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