Teji Mandi Explains: SEBI adopts tough stance against Franklin Templeton. But, is it enough?
Every crisis offers a great opportunity to reform. The same is the case with the saga of Franklin Templeton and its six tainted schemes. While SEBI has initiated tough action against senior members of the AMC, it still has plenty of room to introduce further reforms. It, in turn, will create a more secure environment for investors.
The saga of Franklin Templeton (FT) and it s now-infamous six debt schemes continues to deepen. And SEBI, by adopting a tough stance against the AMC, appears determined to make a strong example out of it.
No effect of SEBI order on ongoing monetisation of shut schemes: Franklin Templeton
By IANS |
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Franklin Templeton Mutual Fund.. Image Source: IANS News
New Delhi, June 9 : Franklin Templeton India has informed unit holders of the debt schemes shut last year that SEBI s latest order barring the fund house from launching any new debt scheme for two years, along with imposition of penalty on the company, will not bear any effect on the ongoing monetisation process of the shut schemes.
In a letter to the investors, Franklin Templeton Asset Management (India) Pvt Ltd President, Sanjay Sapre, said that the order has no impact on any scheme across segments managed by the fund house.
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