SEBI has strengthened the rules relating to collective investment schemes (CIS)

The Securities and Exchange Board of India (SEBI) has strengthened the rules relating to collective investment schemes (CIS); these rules have been set at par with mutual funds regulations. SEBI had floated a consultation paper in January to review these norms.

The regulator made many key changes since the new chief Madhabi Puri Buch took charge. They made amendments to Listing obligations and disclosure requirements (LODR) and Sebi Custodian Regulations, 1996 to let custodians provide their services in the silver exchange-traded funds launched by domestic mutual funds. The terms for net worth have been increased by SEBI so that only the promoters with a good track record are selected to run a collective investment management company (CIMC).