Sebi relaxes rules to enable Fintech firms launch mutual funds
Synopsis The regulator said the net worth of the AMC would have to be maintained until the time it makes a profit for five consecutive years. iStock The Securities and Exchange Board of India (Sebi) Wednesday paved the way for technology startups to enter the mutual fund business by waiving the profitability requirement, approved doing away with minimum promoter contribution toward follow-on public offers (FPO), and also eased norms on investing in insolvent companies. “To facilitate innovation and enhanced reach to more investors at a faster pace including tech-enabled solutions, sponsors ...
Source: indiatimes.com