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Sebi amends MF rules to curb front-running, insider trading
The New Indian Express
|August 06, 2024
MARKET regulator Sebi has amended the rules governing mutual funds to curb front-running, insider trading.
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It has directed the fund houses to have a whistle-blower mechanism, making the asset management companies' (AMCs) management responsible for ensuring the effectiveness of an institutional mechanism to identify and deter front-running and insider trading in securities.
The changes has come in the wake of the Securities and Exchange Board (Sebi) passing two orders regarding front-running cases involving Axis AMC and Life Insurance Corporation of India (LIC) recently.
The Sebi has amended mutual fund rules, which will come into force from November 1.
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