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Sebi cancels registration of JP Morgan MF

Press Trust of India  |  New Delhi 

Markets regulator Sebi today cancelled the registration certificate of JP Morgan following the transfer of its schemes to Edelweiss

Besides, the Securities ad Exchange Board of (Sebi) has withdrawn the given to to act as an asset management company (AMC) to JP Morgan

In a release, Sebi said pursuant to transfer of schemes of to and at the request of JP Morgan Mutual Fund, the regulator, vide its letter dated June 13, 2018 has cancelled the certificate of registration of

The regulator has "withdrawn" the granted to India, to act as an AMC to the mutual fund, it added.

"Consequently, with immediate effect, the JP Morgan Mutual Fund, Pvt Ltd (company) and India Pvt Ltd cannot carry out any activity as a mutual fund, company and asset management company, respectively," Sebi said.

In March 2016, had announced the acquisition of JP Morgan's mutual fund business in India.

Subsequently, in May 2016, Edelweiss had received the from the to acquire mutual fund business of JP Morgan in India.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 13 2018. 16:55 IST