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In a big reprieve to L&T Investment Management Ltd, market regulator Securities and Exchange Board of India (SEBI), disposed of adjudication proceedings for not updating research reports regularly or as per the availability of updated financial statements of the investee companies.
In a big reprieve to L&T Investment Management Ltd, market regulator Securities and Exchange Board of India (SEBI), disposed of adjudication proceedings for not updating research reports regularly or as per the availability of updated financial statements of the investee companies.
The regulator had initiated adjudication proceedings against Iyer and issued a show cause notice to him in April 2022 after finding a violation of mutual fund rules.
The Securities Appellate Tribunal (SAT) has stayed the penalty imposed by capital markets regulator Securities and Exchange Board of India (SEBI) on PGIM Asset Management Company in a case pertaining to flouting of mutual funds norms.
Securities and Exchange Board of India (SEBI) has imposed a penalty totalling Rs36 lakh on five entities -- including PGIM Asset Management Company and its chief executive officer Ajit Menon -- for flouting mutual funds norms while executing Inter-Scheme Transfers (ISTs).