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Trust Not the Regulators, Weep Not about Your Actions

Trust Not the Regulators, Weep Not about Your Actions
moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.

Investors in Securities Market Are Victims of the System with No Judicial Recourse: Virendra Jain of Midas Touch

Investors in Securities Market Are Victims of the System with No Judicial Recourse: Virendra Jain of Midas Touch
moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.

Does SEBI have the mechanism to monitor whether MFs invest as per scheme objectives?

Does SEBI have the mechanism to monitor whether MFs invest as per scheme objectives? May 03, 2021 Did market regulator SEBI fail in regulating Franklin Templeton Mutual Fund (FTMF)? A right to information (RTI) query by Virendra Jain, an investor activist and founder of Midas Touch Investor Association, has revealed that SEBI had no mechanism to monitor if the MF schemes had deployed the funds as per the stated investment objectives, whether the schemes had adhered to or were complying with its contractual terms with the unit holders and were adhering to all the MF regulations. Ratnajit Bhattacharjee along with other FTMF investors have filed a petition in the Supreme Court (SC) based on Jain’s RTI. SEBI told Jain that it did not have any data on individual schemes of MFs.

Franklin Templeton MF: AMFI Files SLP before SC; Midas Touch Investor Association Says Cancel FTMF s Registration

 3 While the Association of Mutual Funds in India (AMFI) has reportedly filed a special leave petition (SLP) in the Supreme Court (SC) in the Franklin Templeton Mutual Fund (FTMF) issue, the Midas Touch Investors Association (MTIA) has asked market regulator Securities and Exchange Board of India (SEBI) to suspend for one year the registration certificate of FTMF.   In a representation addressed to Ajay Tyagi, chairman of SEBI, Virendra Jain, founder and president of MTIA, says, You are requested to suspend their respective certificate of registrations granted by SEBI, under mutual funds regulations, to undertake activities relating to operating mutual funds in India for one year for making false, misleading, biased and deceptive statements while seeking consent of unitholders via e-voting.

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