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Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2020. - SEBI/LAD-NRO/GN/2020/39 - SEBI

Extract

..... me a proprietary trading member for carrying out trades in the debt segment of the recognised stock exchanges, on behalf of its mutual fund schemes and may also become a self-clearing member of the recognised clearing corporations to clear and settle trades in the debt segment on behalf of its mutual fund schemes.” III. In Regulation 25, i. In sub-regulation (6A), the words “whatever his designation may be” shall be substituted with the words “whatever be the designation”. ii. sub-regulation (6A) shall be numbered as clause (a) thereof and after clause (a) so numbered, the following clause shall be inserted, namely- “(b) Chief Executive Officer (whatever be the designation) shall also ensure that the Asset Management Company has adequate systems in place to ensure that the Code of Conduct for Fund Managers and Dealers specified in PART - B of the Fifth Schedule of these regulations are adhered to in letter and spirit. Any breach of the said Code of Conduct shall be brought to the attention of the Board of Directors of the Asset Management Company and Trustees.” iii. In sub-regulation (6B), the words “whatever the designation may be&rd .....

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Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2020. - SEBI/LAD-NRO/GN/2020/39 - SEBI

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..... other market participants; (d) act fairly and deal with market participants in a consistent and transparent manner; (e) act with integrity, particularly in avoiding questionable practices and behaviour; (f) abide by the Act, Rules, Regulations, Guidelines and Circulars governing the securities market and keep themselves up-to-date with the latest developments; (g) not indulge in any unethical business activities or professional misconduct involving dishonesty, fraud or deceit or commit any act that could damage the reputation of the organisation or the mutual fund industry; (h) identify existing or potential conflicts of interest as per their institutions policies and address the same; (i) not carry out any transaction on behalf of a fund with any counter party who is an associate of the Sponsor/Asset Management Company/Fund Manager/Dealer/Chief Executive Officer unless such transaction is carried out on arm‘s length basis on terms and at a price consistent with best execution standards and at a commission rate no higher than customary institutional rates; For the purposes of this clause, the term associate shall have the following meaning: i. In case of an Asset Management C .....

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Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2020. - SEBI/LAD-NRO/GN/2020/39 - SEBI

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..... decisions; and (c) not indulge any act or practice which results in artificial window dressing of the NAV. 3.2. Dealers and Fund Managers shall: (a) adopt fair and prompt deal execution practices; (b) fully document all correspondence and understanding during a deal with counterparties in the books of the fund if they have committed to the transactions on behalf of the mutual fund; (c) not favour one scheme over another for the purpose of security allocation, transfer of benefits (profit/loss) or any valuation gain/ loss including by way of inter scheme transfers or otherwise; (d) not indulge in circular trading (by whatever name called) in any manner; (e) not enter or participate in transactions with the intent of disrupting the market, distorting the prices, or artificially inflating trading volumes; (f) not indulge in simultaneously buying and selling the same securities at off market prices in order to create false or misleading signals regarding the supply of, demand for, or market price of securities; (g) not manipulate the prices of infrequently traded securities including at monthly/ quarterly /annual closing dates; (h) not enter into arrangements for sale or purchase of a .....

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Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2020. - SEBI/LAD-NRO/GN/2020/39 - SEBI

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..... ment Advice by Intermediaries) (Amendment) Regulations, 2001 vide S.O. No.476 (E). (9) on July 23, 2001 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2001 vide S.O. No.698 (E). (10) on February 20, 2002 by the Securities and Exchange Board of India (Mutual Funds)(Amendment) Regulations, 2002 vide S.O. No.219 (E). (11) on June 11, 2002 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2002 vide S.O. No.625 (E). (12) on July 30, 2002 by the Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2002 vide S.O. No.809 (E). (13) on September 9, 2002 by the Securities and Exchange Board of India (Mutual Funds)(Fourth Amendment) Regulations, 2002 vide S.O. No.956 (E). (14) on September 27, 2002 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 vide S.O. No.1045 (E). (15) on May 29, 2003 by the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2003 vide S.O. No. 632 (E). (16) on January 12, 2004 by the Securities and Exchange Board of India (Mutual Funds) (Am .....

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Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2020. - SEBI/LAD-NRO/GN/2020/39 - SEBI

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..... utual Funds) (Amendment) Regulations, 2011 vide No. LAD-NRO/GN/2011-12/27668. (33) on February 21, 2012 by the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2012 vide No. LAD-NRO/GN/2011-12/38/4290. (34) on 26th September, 2012 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2012 vide No. LAD-NRO/GN/2012-13/17/21502. (35) on 16th April, 2013 by the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2013 vide No. LAD-NRO/GN/2013-14/03/5652. (36) on 19th June, 2013 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2013 vide No. LAD-NRO/GN/2013-14/12/6108. (37) on 19th August, 2013 by the Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2013 vide No. LAD-NRO/GN/2013-14/18/6384. (38) on 6th May, 2014 by the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2014 vide No. LAD-NRO/GN/2014-15/01/1039. (39) on 23rd May, 2014 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2014 vide No. LAD-NRO/GN/2014-15/03/1089. (40) on 30th December, 2014 .....

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Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2020. - SEBI/LAD-NRO/GN/2020/39 - SEBI

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