23/10/2024
Summary of the SEBI Circular dated 22/10/2024
This circular is integrated in our free-to-use website ca2013.com.
Inclusion of Mutual Fund units in the SEBI (Prohibition of Insider Trading) Regulations, 2015
SEBI, vide its notification dated November 24, 2022, included mutual fund units under the SEBI (PIT) Regulations, 2015 w.e.f. November 01, 2024. The procedures have been implemented as follows:
1. Disclosure to stock exchanges by the Asset Management Companies (“AMCs”) –
- On quarterly basis from November 01, 2024– the details of the aggregate holdings of its Designated Persons, trustees and their immediate relatives.
- By November 15, 2024– the holdings as on October 31, 2024.
- Within 10 calendar days from the end of the quarter– the holdings for all subsequent calendar quarters.
These disclosures are to be submitted in the format specified in Annexure A to the said circular.
2. Within 2 business days from the date of transaction– the concerned person shall report to the Compliance Officer of AMC, the details of all the transactions in the units of its own mutual funds aggregating to a value in excess of INR 15 Lakhs (in one or series of transaction in the manner specified in the said circular).
These disclosures are to be made in the format specified in Annexure B.
3. The violations made to the Code of Conduct of PIT Regulations shall be disclosed in the format specified in Annexure C.
4. Certain clauses of Master Circular for Mutual Funds dated June 27, 2024 have been modified to harmonize the framework of investment/trading restriction with the amended PIT Regulations.
Click here to view the SEBI Circular.
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