TMI BlogCircular on Mutual FundsX X X X Extracts X X X X X X X X Extracts X X X X ..... he day shall be applicable on which the funds are available for utilization irrespective of the size and time of receipt of such application. 1.2. The existing provision on NAV applicability for liquid and overnight funds and cut-off timings for all schemes shall remain unchanged. 2. Trade Execution and Allocation 2.1. It has been decided that AMCs shall put in place a written down policy which inter-alia detail the specific activities, role and responsibilities of various teams engaged in fund management, dealing, compliance, risk management, back-office, etc., with regard to order placement, execution of order, trade allocation amongst various schemes and other related matters. 2.2. The aforesaid policy shall ensure that all ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ably staffed and comply with the following: i. All conversations of the dealer shall be only through the dedicated recorded telephone lines. ii. No mobile phones or any other communication devices other than the recorded telephone lines shall be allowed inside the dealing room. iii. Restricted access to internet facilities on computers and other devices inside the dealing room. It shall be used for activities related to trade execution only. iv. No sharing of information by dealer through any mode, except for trade execution under the approved internal policy. b) Orders by dealer can be placed either for each scheme individually or pooled on the basis of orders from multiple schemes. The trade allocation policy of the AMCs sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with respect to order placed by fund manager, order placed by dealer, order execution and trade allocation. 2.3.3. Any non-compliance and all material information in this regard shall be reported to trustees on quarterly basis. Trustees shall inform the same to SEBI in their half yearly trustee report. 3. Applicability: The circular shall be applicable with effect from January 1, 2021. 4. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 , read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996 , to protect the interests of investors in securities and to promote the development of, and to regulate the securities ..... X X X X Extracts X X X X X X X X Extracts X X X X
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