The Securities Exchange Board of India (SEBI) on March 12, 2024, issued a notification regarding the extension of timelines for Simplification and streamlining of Offer Documents of Mutual Fund Schemes.
This has a reference to the SEBI vide circular SEBI/H0/1MD/IMD-RAC-2/P/CIR12023/00175 dated November 01, 2023, prescribed simplified format of Scheme Information Document.
The following has been stated namely: -
• It has been decided to revise the date of applicability of provisions at para 4 of the aforesaid circular, The Updated format for SID/KIM/SAI to be implemented w.e.f. June 01, 2024.
• It states that the Draft SIDs are to be filed with SEBI on or before May 31, 2024, or SIDs already filed with SEBI (final observations yet to be issued) or SIDs for which the final observations have already been received from SEBI (if launched on or before May 31, 2024), can use the old format of SID, provided that the SIDs are updated as per the timeline mentioned namely: -
For Existing SIDs — by June 30, 2024, with data as of May 31, 2024.
• It states that Reference is drawn to para 1.2.1 and 1.2.4 of the Master circular dated May 19, 2023, w.r.t updating of SID and KIM within 1 month from the end of the half year i.e. April 30, 2024, for the half-year ended March 31, 2024.
• It further states that in order to avoid duplication of efforts of AMCs as well as to ensure uniform implementation of revised formats, the scheduled updating of SID and KIM for half year ended March 31, 2024, may be carried out by AMCs by June 30, 2024. This extension shall be applicable specifically for half-year ended March 31, 2024 only.
• It states that All updated/revised SIDs shall be made available on the website of SEBI/AMFI/AMCs within the timelines specified above.
[Circular No. SEBI/F10/1MD/IMD-RAC-2/P/CIR/20241000015]
