Circular on Resources for Trustees of Mutual Funds

Last updated: 24 September 2020

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The Securities and Exchange Board of India (SEBI) has issued a circular regarding resources for trustees of mutual funds. Initially announced on August 10, 2020, the compliance deadline for these guidelines has now been extended to January 01, 2021. All other conditions from the original circular remain in effect.

Securities and Exchange Board of India

CIRCULAR

SEBI/HO/IMD/DF4/CIR/P/2020/178

September 23, 2020

All Mutual Funds (MFs)/
Asset Management Companies (AMCs)/
Trustee Companies/ Board of Trustees of Mutual Funds/
Association of Mutual Funds in India (AMFI)

Sir/ Madam,

Sub: Resources for Trustees of Mutual Funds

1. SEBI, vide circular no. SEBI/HO/IMD/DF4/CIR/P/2020/0000000151 dated August 10, 2020, has issued guidelines on resources for Trustees of Mutual Funds.

2. Upon consideration of the subsequent representation received from AMFI, it has been decided that compliance of the aforesaid Circular shall be applicable from January 01, 2021.

3. All other conditions specified in SEBI circular dated August 10, 2020 shall remain unchanged.

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 market.

Yours faithfully,

Lamber Singh
Deputy General Manager
E-mail: lambers@sebi.gov.in

FAQ :

The circular concerns resources for Trustees of Mutual Funds.

The compliance deadline has been extended and is now applicable from January 01, 2021.

No, all other conditions specified in the SEBI circular dated August 10, 2020, remain unchanged.

The circular is addressed to all Mutual Funds (MFs), Asset Management Companies (AMCs), Trustee Companies, Board of Trustees of Mutual Funds, and the Association of Mutual Funds in India (AMFI).

Notification No : SEBI/HO/IMD/DF4/CIR/P/2020/178
Source : https://www.sebi.gov.in/legal/circulars/sep-2020/circular-on-resources-for-trustees-of-mutual-funds_47630.html

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