Sebi said, data should be disclosed by 7th of next month
Markets regulator Sebi on Friday asked mutual funds, portfolio managers and alternative investment funds (AIFs) to disclose data related to the charter of investors as well as complaints received by them.
For mutual funds and portfolio managers, SEBI said they are advised to disclose the investor charter on their website in accordance with separate circulars.
For AIFs, SEBI said that they should bring the investor charter to the notice of investors through Private Placement Memorandum (PPM) in case of new schemes and for existing schemes, as a one-time measure, they should be given to the investors on their registered e-mail. It should be disclosed. -Match.
Further, Mutual Funds are required to disclose the details of investor complaints in the prescribed format on their respective websites as well as on the AMFI website on a monthly basis. Further, Mutual Funds are advised to display the link/option for lodging complaints directly on their website and mobile app.
In addition, a link to the SCORES website and a link to download the mobile application will also be made available on their website. Portfolio managers are also required to disclose data on their websites related to complaints, including SCORES complaints, on a monthly basis.
In separate circulars, SEBI said that the data should be disclosed by 7th of the next month. In the case of AIFs, they will have to disclose the data on investor complaints as a separate chapter in the PPM for new schemes. For existing schemes, such data should be disclosed by updating the PPM within one month of the end of each financial year.
“For effective monitoring, AIFs shall maintain data on investor complaints … as latest compiled within 7 days from the end of the quarter,” Sebi said. The disclosure is to be made in the formats prescribed by the regulator.
The move is aimed at bringing more transparency in the investor grievance redressal mechanism. These disclosure requirements are in addition to those already mandated by SEBI. The circular will be effective from January 1, 2022.
,