TMI BlogSecurities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2020.X X X X Extracts X X X X X X X X Extracts X X X X ..... Schedule , the words and symbol PART-A of shall be inserted. II. Third Proviso to clause (b) of regulation 24 shall be substituted with the following, namely Provided further that an asset management company may become 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 Cod ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of the unit holders; (b) strive for highest ethical and professional standards to enhance the reputation of the markets; (c) act honestly in dealings with 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 commissi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate and adequate basis for investment decision and shall be responsible for investment in the funds managed by them; (b) record in writing, the decision of buying or selling securities together with the detailed justifications for such 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 m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2000 vide S.O. No.484 (E). (7) on January 23, 2001 by the Securities and Exchange Board of India (Mutual Funds)(Amendment) Regulations, 2001 vide S.O. No.69 (E). (8) on May 29, 2001 by the Securities and Exchange Board of India (Investment 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 ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (30) on June 5, 2009 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2009 vide No. LAD- NRO/GN/2009-10/07/165404. (31) on July 29, 2010 by the Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2010 vide No. LAD-NRO/GN/2010-11/13/13945. (32) on August 30, 2011 by the Securities and Exchange Board of India (Mutual 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) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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