SEBI introduces Code of Conduct

SEBI introduces Code of Conduct for Fund Managers

Markets regulator Securities & Exchange Board of India (SEBI) on Tuesday decided to introduce a code of conduct for mutual fund managers, including Chief Investment Officer Of Asset Management Companies (AMCs).

The Board approved an amendment to Mutual Fund Regulations to enable Asset Management Companies to become a self-clearing member of the recognised Clearing Corporations to clear and settle trades in the debt segment of recognised stock exchanges, on behalf of its mutual fund schemes.

The board further approved the amendment of Mutual Fund Regulations to introduce a Code of Conduct for Fund Managers including Chief Investment Officers and Dealers of AMCs

The Chief Executive Officer (CEO) will be responsible to ensure that the code of conduct is followed by all such officers.

Till date, this code of conduct is only applicable to trustees and the AMC.

SEBI also approved setting up of a limited purpose repo-clearing corporation.