The Securities and Exchange Board of India (SEBI) on April 25, 2023, issued a circular regarding the Modifications in the requirement of filing Offer Documents by Mutual Funds
This Circular aims to protect the interests of investors in securities, promote the development, and regulate the securities market.
The provisions of this circular shall be applicable with effect from May 01, 2023.
The following has been stated namely: -
• This is in partial modification of the SEBI Circular SEBI/HO/IMD/DF2/CIR/P/2016/68 dated August 10, 2016, which mandated the submission of a soft copy of the final SIDs along with printed/final copy seven working days prior to the launch of the scheme
• It has been decided that AMC shall file all final offer documents (final SID and final KIM) only digitally by emailing the same to a dedicated email Id [email protected] and there would be a requirement of filing physical copies of the same with SEBI.
• It states that based on the consultation with the AMFI, such submission of all final SID and KIM in the digital form shall be made at least two working days prior to the launch of the scheme.
• It further states that in order to safeguard the interests of investors in the securities market, it has been decided that all new fund offers (“NFOs”) shall remain open for subscription for a minimum period of three working days
• All other provisions mentioned in the aforesaid circular shall remain unchanged.
[Circular No. SEBI/HO/IMD/IMD-RAC-2/P/CIR/2023/60]
