September 14, 2016
SEBI has released a Master Circular SEBI/HO/IMD/DF3/CIR/P/2016/84 for Mutual Funds which is a compilation of all the circulars issued by SEBI on Mutual Funds, which are operational as on date of this circular.
For effective regulation of the Mutual Fund Industry, Securities and Exchange Board of India (SEBI) has been issuing various circulars from time to time. In order to enable the industry and other users to have an access to all the applicable circulars at one place, Master Circular for Mutual Funds has been prepared.
The Master Circular has 17 Chapters which include Governance norms, Disclosures and Reporting norms, Loads, fees and expenses, among other things. This Master Circular shall supersede the previous Master Circular CIR/IMD/DF/18/2014 dated October 01, 2014. Further, in case of any inconsistency between the master circular and the applicable circulars, the contents of the relevant circular shall prevail.
Circular : Master Circular for Mutual Funds