SEBI issues Circular in regard to the Disclosure Requirements for Asset Management Companies

On 25th August 2022, the Securities and Exchange Board of India (SEBI) issued a circular named SEBI/HO/IMD/DOF2/P/CIR/2022/111, addressing the
Disclosure Requirements for Asset Management Companies (AMCs). The
circular was issued through the exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with the provision of Regulation 77 of SEBI (Mutual Funds) Regulation, 1996, for the purpose of protecting the interests of investors in securities and to promote the development of, and to regulate the securities market.

The circular states that the definition of the term “associate” is in accordance with clause (c) of sub-regulation (1) of regulation 2 of SEBI (Mutual Funds) Regulations, 1996 vide Gazette Notification No. SEBI/LAD-NRO/GN/2022/92 dated 03rd August 2022.