 "Appeal over self regulator for MF distributors to be heard in Feb")
The Securities Appellate Tribunal (SAT) has said that it will hear the case for creation of a self regulatory organisation (SRO) for distributors in a fortnight.
The matter was slated for hearing on Tuesday but was postponed so that a full bench can hear the matter.
The Securities and Exchange Board of India (Sebi) had invited applications for the setting up of an SRO for distributors. It had later picked an organisation promoted by the Association of Mutual Funds In India (AMFI) as SRO.
But another applicant protested the move. The protest was from a body that financial planners had set up. It was pointed out that the manufacturer of a product would be regulating its distributors.
Those on the other side said that SRO board would have sufficient represention from Sebi and others to rule out such an issue.
But another applicant protested the move. The protest was from a body that financial planners had set up. It was pointed out that the manufacturer of a product would be regulating its distributors.
Those on the other side said that SRO board would have sufficient represention from Sebi and others to rule out such an issue.
The matter then came before SAT, which hears appeals against Sebi decisions. It will now be heard in two weeks time.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%