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Reporting formats for mutual funds modified by SEBI

Sebi modified guidelines asking to submit complete CTR by AMC to the regulator on a quarterly basis, by the 21st day of the succeeding month for the quarters ending March, June, September and December rather than exceptional reporting.
It has made compulsory to include details of the number of live schemes as on last day of the quarter-end, schemes launched during the period including schemes which were launched but could not be constituted for any reason, details of existing schemes matured or wound up as well schemes merged during the quarter in the to the quarterly report of activities of mutual funds. These guidelines would come into effect for reporting from the quarter ending June 2021.

On a half-yearly trustee report by trustees to Sebi it said AMC need to mention ‘Yes’/’No’ with respect to each compliance item and wherein there is non-compliance and AMC has mentioned ‘No’, details regarding the nature of non-compliance should be given along with the corrective action taken if any. Sebi said trustees will have to submit corrective steps taken with respect to the non-compliance reported in the report. It, further, said trustees would continue to submit such report for the half-year ending September and March within two months from the end of the half-year. For the half-yearly trustee report, the new framework would come into effect for reporting from the half-year ended March 2021.

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