SEBI stops NFOs in mutual funds

NFOs in mutual funds

The Securities and Exchange Board of India (SEBI) has placed restrictions on the mutual funds industry from issuing new fund offers (NFO) to give the industry time to comply with the new norms.

SEBI has directed all the stakeholders like mutual fund distributors, investor advisors, and other such online platforms to refrain from pooling accounts to transfer the funds to any assets management company for purchasing schemes of these investors. This is being done to make sure that the money remains safe. The regulator wrote a letter to the Association of mutual funds in India (AMFI). It asked the industry to comply with the circular, which directed the agencies to use two-factor authentication to retrieve mutual funds and verify the source accounts when the investments are made

Benefits Of eBook

Immersive E-BooksImmersive E-Books

Reading and learning have become a more immersive experience in the era of visually enriched digital e-books.

Portable LibraryPortable Library

Carry an entire library of amazing topics in one device, making reading on-the-go easy as well as hassle-free!

Trend InsightTrend Insight

Up-to-date, relevant content material that makes you familiar with the ongoing trend in the world of law, tax, and startups.