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Amfito form ethics committee to curb misconduct in AMCS
Business Standard
|May 31, 2023
Panel to take action on self-regulatory basis, will have no judicial powers, says Sebi chief
The Securities and Exchange Board of India (Sebi) is guiding the Association of Mutual Funds in India (Amfi) to form an ethics committee to take action against individual misdemeanours in asset management companies (AMCs).
Speaking at the inauguration of an office of Amfi in Mumbai on Tuesday, Sebi Chairperson Madhabi Puri Buch said the markets regulator was building an institutional mechanism to prevent and deter wrongdoings in the industry.
The proposed ethics committee of Amfi, a nodal association of mutual funds in the country, is envisioned to be able to take action on a self-regulatory basis against individuals who are found involved in misconduct such as front-running and insider trading.
This story is from the May 31, 2023 edition of Business Standard.
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