INDIA Law and Practice Contributed by: Tejesh Chitlangi, Sushreet Pattanayak, Pooja Mehta and Anita Jain, IC Universal Legal
Retail Schemes Under GIFT Funds See 2.3.8 Marketing Authorisation/Notification Process . 3.3.9 Post-Marketing Ongoing Requirements Domestic Mutual Funds See 3.3.6 Rules Concerning Marketing of Retail Funds . Retail Schemes Under GIFT Funds See 2.3.9 Post-Marketing Ongoing Require- ments . 3.3.10 Investor Protection Rules Domestic Mutual Funds The SEBI has introduced various structures and measures to safeguard investor interests, includ - ing the following. • A Unitholder Protection Committee set up by the AMC to establish policies and systems for reviewing and addressing investor grievances in a timely manner and to help reduce inves - tor complaints. • The appointment of Investor Relations Officer by the AMC (whose details are generally presented in the SID and on the website of the relevant mutual fund) whom investors can approach should they have any grievances. • SCORES, an online centralised grievance redressal system which allows investors to file complaints against the mutual fund and ensure timely treatment. • An online Dispute Resolution Mechanism for conciliation and arbitration in the event of disputes arising between a mutual fund and its investors.
ment issued by a mutual fund must be sub- mitted to the SEBI within seven days of the date of issuance, along with an undertaking by the compliance officer of the AMC that the advertisement adheres to the Advertisement Code prescribed under the MF Regulations. • Selling of Mutual Fund Schemes by Distribu - tors – a mutual fund may empanel a Mutual Fund Distributor (MFD) registered with the Association of Mutual Funds in India (AMFI), a non-profit body of the AMCs of all mutual funds registered with the SEBI that lays down best practices and standardised operational guidelines for uniformity among all AMCs. MFDs are required to comply with the Code of Conduct for MFDs prescribed by the AMFI. The mutual fund will also be liable in the event of misconduct (such as mis-selling, form splitting, etc) by MFDs empanelled by them. Retail Schemes Under GIFT Funds See 2.3.7 Marketing of Alternative Funds . 3.3.7 Marketing of Retail Funds Domestic Mutual Funds In India, there are no specific restrictions as to whom the mutual funds can be marketed. It can be marketed to the general public at large, sub - ject to compliance with marketing rules as pre - scribed above. Retail Schemes Under GIFT Funds See 2.3.7 Marketing of Alternative Funds . 3.3.8 Marketing Authorisation/Notification Process Domestic Mutual Funds See 3.3.6 Rules Concerning Marketing of Retail Funds .
Retail Schemes Under GIFT Funds See 2.3.10 Investor Protection Rules .
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