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TMI BlogSecurities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2012.X X X X Extracts X X X X X X X X Extracts X X X X ..... ement company/mutual fund that may influence investment decisions of any investor/prospective investors; ; (ii) in regulation 25, after the sub-regulation (18), the following sub-regulations shall be inserted, namely:- (19) The asset management company shall compute and carry out valuation of investments made by its scheme(s) in accordance with the investment valuation norms specified in Eighth Schedule, and shall publish the same. (20) The asset management company and the sponsor of the mutual fund shall be liable to compensate the affected investors and/or the scheme for any unfair treatment to any investor as a result of inappropriate valuation. (21) The asset management company shall report and disclose all the transactions in debt and money market securities, including inter scheme transfers, as may be specified by the Board. ; (iii) in regulation 30, (a) in sub-regulation (1), 1. the words, in respect of every scheme appearing after the word Advertisement , and before the words, shall be in conformity with shall be omitted; 2. the symbols and figure, (1) shall be omitted; (b) sub-regulation (2) shall be omitted; (iv) for regulation 47, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (h) No advertisement shall directly or indirectly discredit other advertisements or make unfair comparisons. (i) Advertisements shall be accompanied by a standard warning in legible fonts which states 'Mutual Fund investments are subject to market risks, read all scheme related documents carefully.' No addition or deletion of words shall be made to the standard warning. (j) In audio-visual media based advertisements, the standard warning in visual and accompanying voice over reiteration shall be audible in a clear and understandable manner. For example, in standard warning both the visual and the voice over reiteration containing 14 words running for at least 5 seconds may be considered as clear and understandable. ; (vii) in the Eighth Schedule, (a) in the reference title, the word and number, regulation 47 shall be substituted with the word and numbers regulations 25(19), 47 ; (b) the words and symbol Mutual fund shall value its investments according to the following valuation norms: appearing under the heading Investment Valuation Norms , shall be omitted; (c) after the heading Investment Valuation Norms , the following sub-headings and clause ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany shall be made in Statement of Additional Information, on the website of the asset management company /mutual fund and at any other place where the Board may specify to ensure transparency of valuation norms to be adopted by asset management company. (g) The responsibility of true and fairness of valuation and correct NAV shall be of the asset management company, irrespective of disclosure of the approved valuation policies and procedures i.e. if the established policies and procedures of valuation do not result in fair/ appropriate valuation, the asset management company shall deviate from the established policies and procedures in order to value the assets/ securities at fair value: Provided that any deviation from the disclosed valuation policy and procedures may be allowed with appropriate reporting to Board of Trustees and the Board of the asset management company and appropriate disclosures to investors. (h) The asset management company shall have policies and procedures to detect and prevent incorrect valuation. (i) Documentation of rationale for valuation including inter scheme transfers shall be maintained and preserved by the asset management compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mendment) Regulations, 2000 vide S.D. No.484 (E). (g) on January 23, 2001 by the Securities and Exchange Board of India (Mutual Funds)(Amendment) Regulations, 2001 vide S.O. No.69 (E). (h) on May 29, 2001 by the Securities and Exchange Board of India (Investment Advice by Intermediaries) (Amendment) Regulations, 2001 vide SO. No.476 (E). (i) on Ju.ly 23, 2001 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2001 vide S.O. No. 698 (E). (j) on February 20, 2002 by the Securities and Exchange Board of India (Mutual Funds)(Amendment) Regulations, 2002 vide S.O. No.219 (E). (k) on June I l, 2002 by the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2002 vide S.O. No.625 (E). (l) on July 30, 2002 by the Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2002 vide S.O. No. 809 (E). (m) on September 9, 2002 by the Securities and Exchange Board of India (Mutual Funds)(Fourth Amendment) Regulations, 2002 vide S.O. No.956 (E). (n) on September 27, 2002 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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