 "Mutual fund units to fall under PIT regulations from November 1")
The Securities and Exchange Board of India (Sebi) on Tuesday said that the units of mutual funds (MFs) will fall under the purview of the Prohibition of Insider Trading (PIT) Regulations from November 1, 2024, onwards.
The market regulator had issued the notification on the inclusion of MF units under PIT in November 2022, but it is being made effective now after consultation with industry bodies and members.
Sebi said that asset management companies (AMCs) will have to disclose the holdings of designated persons of AMCs, trustees, and their immediate relatives on a quarterly basis.
The market watchdog has also mandated the reporting of all transactions above Rs 15 lakh in a quarter in the units of their own MFs by a designated person to the compliance officer within two business days.
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