Sebi rejigs advisory committee on mutual fund

Mumbai: Sebi revamped its committee that advices the market regulator on matters related to regulation and development of mutual fund industry.

The 15-member advisory committee on mutual funds is headed by Janki Ballabh, former chairman of SBI.

The advisory committee is mandated to advise Securities and Exchange Board of India (Sebi) on issues related to regulation and development of mutual fund industry.

Besides, it can advice the regulator on disclosure requirements and measures required for change in the legal framework to introduce simplification and transparency in the mutual fund regulations.

The members of the committee include executives of various fund houses such as Birla Mutual Fund CEO A Balasubramanium, Tata Mutual Fund chairman of the Board of Trustees(Independent Trustee) SM Datta, DSP BlackRock President & CIO S Naganath and Edelweiss Mutual Fund CEO Vikaas M Sachdeva, among others.

Moreover, the committee comprises of representatives from government and media.

Last month, Sebi’s board had cleared a slew of proposals for the mutual funds, such as setting up of a self regulatory organisation for all distributors, who would also be allowed to access the bourses infrastructure to do their business.

A proposal for allowing mutual fund houses to trade directly on the debt segment of the stock exchanges was also cleared by the board.

PTI