Resources for Trustees of Mututal Funds

SEBI vide circular No. SEBI/HO/IMD/DF4/CIR/P/2020/0000000151 dated 10th August, 2020 providing administrative assistance to trustees in monitoring various activities of the AMCs.

It is decided that,

  • Trustees shall appoint a  dedicated officer having professional qualification and minimum 5 years of experience in finance and financial services related field.
    • The officer so  appointed, shall be employee of the  Trustees and directly report to the Trustees.
    • The scope of work for the said officer shall be  specified by Trustees from  time to time to support  the role and  respon-sibilities of the Trustees.
  • Further, Trustees shall have standing arrangements with independent firms for special  purpose audit and/or to seek  legal advice in case of any requirement as identified and whenever considered necessary.

The expenditure incurred for  the above shall be charged  under the clause “fees and  expenses of trustees” of SEBI   (Mutual Funds) Regulations, 1996.

https://www.sebi.gov.in/legal/circulars/aug-2020/resources-for-trustees-of-mutual-funds_47291.html

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