SEBI Proposes Institutional Mechanism for AMCs
On 20th May, 2023, the Securities and Exchange Board of India (SEBI) proposed a slew of measures to strengthen governance in Asset Management Companies (AMCs).
- This comes in the wake of SEBI passing orders in two instances of front-running pertaining to Axis AMC and Life Insurance Corporation of India (LIC).
Proposed Measures
- Adequate Surveillance System: Setting up of adequate surveillance and internal control systems by AMCs for deterrence of possible market abuse and fraudulent transactions in securities related to the AMCs' transactions.
- Responsibility of Senior Management: Senior management of AMCs should be responsible to ensure that an institutional mechanism is put in ....
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