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MF distributors' nod not a must for shifting investments, says Sebi

The Securities and Exchange Board of India (Sebi) has asked asset management companies (AMCs) not to compel investors to get no-objection certificates (NoCs) from their existing distributors for shifting their investments. - Sebi cracks whip on incomplete MF documentation - Corporate entities, HNIs also get ASBA facility - Sebi extends ASBA facility to corporates, HNIs - Sebi cracks the whip on Barclays - Overseas investors buy Rs 994 crore of stocks - Sebi asks bourses to preserve papers for five years This is a reiteration of the Association of Mutual Funds of India (Amfi) advice to AMCs to allow investors to change their distributor on the basis of a letter from them. However, “it appears that this mandate is not being followed by the mutual fund industry,” it said.“Some AMCs are insisting on the investor procuring an NoC from the existing distributor for this switch over, despite the guideline from Amfi,” said Sebi. Mutual fund investors caught in NoC muddle

payday uk loans commented:

I am surely very impressed with the article presented here and sebi is surely the head which keep tracks of every investment company in India.

23.11.2011

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