The Securities and Exchange Board of India's (Sebi's) investigation into alleged circumvention of regulations in alternative investment funds (AIFs) has put trustees in a spot of bother. Many are now seeking more rights to fulfil their obligations, which include overseeing the conduct of AIFS and safeguarding the interests of unitholders.
Trustees are also tasked with compliance-related work for AIFs, besides conducting KYC checks on investors, obtaining beneficial ownership details from offshore investors, and disseminating information to investors. However, many trustees report that they do not receive timely disclosures or at times, no disclosure from investment managers.
"We don't have any defined rights as trustees," said a trustee who manages dozens of AIFS. "We're seeking more rights from the market regulator so we can obtain the necessary information from AIFs to ensure proper compliance by funds."
この記事は Business Standard の October 25, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Standard の October 25, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Loser takes all
This book was published in September, three months ahead of the US presidential polls, presumably to reveal to voters the dangers of returning Donald Trump to the White House.
J&K HC asks Army to pay 46 years' rent to landowner
The High Court of Jammu and Kashmir and Ladakh recently held that the right to property now falls within the realm of human rights.
India, UK navies to develop electric propulsion for next-gen warships
The ministries of defence of India and the UK have signed a statement of intent (SoI) to cooperate in designing and developing Electric Propulsion Systems for the Indian Navy.
India backs Iskcon, tells Bangladesh to protect minorities
New Delhi hopes arrested monk will get fair trial
HAVING A BALL
Indian bowlers are winning matches and setting IPL auction records. But brands are not yet bowled over. Will Bumrah get bowlers their due?
Link UPI app to bank account with limited funds, set daily limits
Indians have lost ₹485 crore to frauds on the Unified Payments Interface (UPI) across 632,000 incidents reported until September of the current financial year, according to data from the Ministry of Finance.
Arpu gains, lower capex augur well for Airtel
Brokerages positive on stock; earnings flows may rise over next 24 mths
NIFTY LOGS BACK-TO-BACK MONTHLY LOSS
Benchmark Nifty 50 index shed 0.3 per cent in November, logging its first back-to-back monthly loss since February 2023.
Lock-up on ₹1.2 trn pre-IPO shares to lift in two months
Lock-up on shares worth nearly ₹1.2 trillion ($14 billion) belonging to 50 companies will end between now and January 31, said Nuvama Institutional Equities in a note.
Margin moderation may cap upsides for Colgate
After gaining over 15 per cent in the first half of the week, the stock of oral care major Colgate-Palmolive (India) has shed about a third of those gains.
