The Securities and Exchange Board of India vide its notification dated 23rd September 2020 has decided that the timeline for appointment of dedicated officers for administrative assistance to trustees in monitoring various activities of asset management companies shall be applicable from 1st January 2020.
SEBI in its earlier notification date 10th August 2020 has issued guidelines to provide administrative assistance to trustees in monitoring various activities of AMCs and asked Mutual Fund trustees to appoint a dedicated officer having professional qualifications and a minimum five years of experience in finance and financial services-related fields by October 1.
However based on the consideration of the subsequent representation received from the AMFI, it has been decided that compliance of the above circular shall be applicable from January 1, 2021.
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