SEBI for fast-track clearance of mutual funds

By siliconindia   |   Thursday, 27 December 2007, 08:00 Hrs
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Mumbai: India's market regulator body Securities and Exchange Board of India (SEBI) on Thursday proposed to clear mutual funds products on a fast-track basis. The proposal was posted on its website seeking public comments.

To begin with, fixed maturity plans with closed ended income schemes can be offered on a fast track basis.

Under this proposal, a fund house can file a final offer document with the regulator along with compliance certificates and fees. After the filing, the regulator will confirm the receipt of the documents and the fund house can offer the scheme to investors.

The proposal is in line with international stipulations where not many approvals are required and fund houses file the final document and goes ahead with the scheme.

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