SEBI Master Circular for Mutual Funds updated till 25th August 2020

SEBI issues Master Circular for Mutual Funds 

For effective regulation of the Mutual Fund Industry, Securities and Exchange Board of India (SEBI) has been issuing various circulars from time to time.

In order to enable the industry and other users to have an access to all the applicable circulars at one place, SEBI has issued this Master Circular for Mutual Funds.

This Master Circular includes circulars issued upto March 31, 2020. Temporary relaxations with regards to certain compliance requirements for mutual funds in the wake of the COVID-19 pandemic were provided vide SEBI Circular No.SEBI/HO/IMD/DF3/CIR/P/2020/47 dated March 23, 2020, which may be referred to for the same

The Circular contains the following Chapters:

1. Offer documents for Schemes
2. Conversion and consolidation  of schemes and launch of additional plan
3. New Products
4. Risk Management System
5. Disclosures & reporting norms
6. Governance norms
7. Secondary market issues
8. Net asset value
9. Valuation
10. Loads, fees and expenses
11. Dividend distribution procedure
12. Investment by schemes
13.Investment by foreign investors in mf schemes
14. Advertisements
15. Investor rights & obligations
16. Certification and registration of intermediaries
17. Transaction in mutual funds units
18. Miscellaneous

Download SEBI Master Circular on Mutual Funds Click Here >>

• AO not justified in rejecting registered valuer’s report without reference to DVO – ITAT
• FCRA specifies list of 105 purposes to be selected for which registration is applied
• Withholding tax u/s 40(a)(i) not required on cost-to-cost reimbursement made to parent company
• Temporarily blocking public access to Telegram App not disproportionate – Delhi High Court
• High Court explains the meaning of term ‘enterprise’ appearing in section 80IA