Securities Exchange Board of India(SEBI) vide notification dated 23rd March 2020 has extended relaxations in compliances related to Mutual funds due to the Pandemic COVID 19. As per the notification all NFO schemes which have been given observation letters but are yet to be launched shall have validity period of 1 year from the date of issuance of such letter. Timelines of certain disclosures and policy initiatives have also been extended.
- For Half yearly disclosures of unaudited financial results as required under Regulation 59 of SEBI (Mutual Funds) Regulations, 1996 the date has been extended to 31st May 2020.
- For Disclosure of commission paid to distributors as required under Point 2(a) of SEBI circular dated 18th March 2016, the date is extended to is 10th May 2020.
- For Yearly Disclosure of investor complaints with respect to Mutual Funds as required under Point 4 (b) of SEBI circular dated 13th May 2010, the date extended is up to 30th June 2020
- For Risk management framework for liquid and overnight funds and norms governing investment in short term deposits dated 20th September 2019, Review of investment norms for mutual funds for investment in Debt and Money Market Instruments and Valuation of money market and debt securities dated 24th September 2019 the due date has been extended to 1st May 2020.
- Review of investment norms for mutual funds for investment in Debt and Money Market Instruments where the maximum investment in unlisted NCDs as 15 % of the debt portfolio of the scheme has been extended up to 30th April 2020.
These extensions have been brought in as relaxations due to the spread of COVID 19 and the preventive steps taken in light of it.
Click here to read the Circular.
