The mutual fund lite asset management company shall abide by various obligations specified in the...

The mutual fund lite asset management company shall abide by various obligations specified in the regulations. Key requirements include exercising due diligence, obtaining necessary approvals, ensuring compliance with regulations and code of conduct, managing schemes independently without conflicts of interest, maintaining adequate systems and controls, proper disclosures, grievance redressal mechanisms, and submitting periodic reports to trustees and SEBI. The board of directors and key personnel like CEO, fund managers, dealers have specified responsibilities regarding compliance, risk management, and protecting unitholders' interests. Restrictions are imposed on transactions with associates and brokers to prevent conflicts of interest. .....

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