Guidelines for Investment and/or Trading in Securities by Employees of AMC(s) and Trustees
SEBI had specified the norms for investment/ trading in securities by employees of AMC(s) and Trustees of Mutual Funds. Subsequently, SEBI partially modified it. Now based on the representations SEBI has decided to review the circular and partially modify the said provisions.
New Guidelines shall be applicable to all employees of AMC(s) and Trustees and shall form a part of the Code of Conduct for employees adopted by the AMC(s) and/or Trustees. New employees shall be bound by these Guidelines from the date of joining the AMC(s) and/or Trustees.
The new Guidelines shall cover transactions for sale or purchase of securities made:
a. In the name of employees, either individually or jointly,
b. In the name of the employees’ spouse,
c. As a member of HUF,
d. In the name of parent, sibling or child of the employee or of the spouse of such employee, any of whom is either dependent financially on such employee or spouse of employee, or consults such employee or spouse of employee in taking decisions relating to trading in securities.
The objectives and principles of these Guidelines are to inter alia ensure that all securities transactions made by employees in their personal capacity are conducted in consonance with these Guidelines and in such manner as to avoid any actual or potential conflict of interest or any abuse of an individual’s position of trust and responsibility.
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