Sebi warns heads of asset management companies against 25 violations

The regulator has also discussed these issues with the AMCs and their trustees

The Securities and Exchange Board of India (Sebi) has written to the heads of asset management companies (AMCs), warning against 25 malpractices committed by the Rs 23-trillion industry. The regulator, in a four-page letter dated July 9, has also warned fund houses against breaches and demanded corrective measures. The letter, reviewed by Business Standard, has been sent to the chief executive officers (CEOs) of all fund houses, along with the chairman of industry body Association of Mutual Funds in India (AMFI).

Industry players say the latest communication is to send a signal that the market watchdog is closely monitoring all