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ARTICLE · 18 SEPTEMBER 2024

Regulatory Spotlight On Mutual Funds

S&R Associates
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The Indian mutual fund industry has experienced significant growth in recent years, with data released by Association of Mutual Funds in India ("AMFI")...

IndiaFinance and Banking
Sandip Bhagat
Sandip Bhagat
Abhishek Singh
Abhishek Singh

The Indian mutual fund industry has experienced significant growth in recent years, with data released by Association of Mutual Funds in India ("AMFI") indicating that assets under management increased from INR 25.48 trillion (USD 303 billion approximately) as on August 31, 2019 to INR 66.70 trillion (USD 795 billion approximately) as on August 31, 2024.

The Indian securities market regulator, the Securities and Exchange Board of India ("SEBI"), has increased its scrutiny over the mutual funds industry and tightened the regulations. We discuss some enforcement actions and changes to the regulations implemented by the SEBI.

ENFORCEMENT ACTIONS

In enforcement actions, the market regulator has proceeded against the asset management company ("AMC") for not exercising due diligence and care while making an investment decision and against the key managerial personnel of the AMC for taking undue advantage of their position to make wrongful gains.

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This insight/article is intended only as a general discussion of issues and is not intended for any solicitation of work. It should not be regarded as legal advice and no legal or business decision should be based on its content.

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