SEBI requires mutual funds, portfolio managers, alternative investment funds to disclose investor charters, claims data
The data should be disclosed no later than the 7th of the following month, Sebi said
Market regulator Sebi on Friday asked mutual funds, portfolio managers and alternative investment funds (AIFs) to disclose investor charters and data related to claims. complaints they receive.
For mutual funds and portfolio managers, Sebi said they should disclose the investor charter on their website, according to separate circulars.
As for the AIF, Sebi said it should put the investor charter to inform investors through a private placement memorandum (PPM) in the event of new programs and for existing programs. , as a one-time measure, they should disclose that to investors on their registered e. -letters.
In addition, mutual funds are required to publish detailed information on investor complaints on their respective websites as well as on AMFI’s website monthly in a regulated format. Furthermore, mutual funds are advised to display the link/option to complain to them directly on their website and mobile app.
In addition, a link to the SCORES website and a link to download the mobile application will also be provided on their website. Portfolio managers are also required to disclose data on their website regarding claims, including SCORES claims, on a monthly basis.
The data should be published by the 7th of the following month at the latest, Sebi said in separate circulars. In the case of AIF, they must disclose investor claims data as a separate chapter in the PPM, for new programs. For existing programs, that data should be disclosed by updating the PPM within one month of the end of each fiscal year.
“For effective monitoring, AIFs will maintain data on investor complaints … and this data will be compiled within seven days of the end of the quarter at the latest,” Sebi said. Disclosures must be made in the formats prescribed by the regulatory authority.
This move is intended to bring more transparency into the investor complaint settlement mechanism. These disclosure requirements are in addition to those mandated by Sebi. These circulars will take effect from January 1, 2022.
