Securities Exchange Board of India (SEBI) on Tuesday took some important decisions. It has taken a number of important steps, including amending the rules relating to independent directors and enforcing the rules to authorized investors. In the second proposal, the regulator has allowed resident Indian fund managers to be part of foreign portfolio investors. In addition, changes have been made in the rules of mutual funds. Under this, asset management companies will have to invest a minimum amount in the scheme based on the risks associated with such schemes.
SEBI has also made changes in the amount currently being deposited in the New Fund Offer (NFO).
The decision was taken by the SEBI Board at its meeting on Tuesday. The authorized investors can be individuals, HUFs, family trustees, sole proprietors, partnership companies, trustees and corporates, depending on the financial criteria, the statement said.
SEBI also approved amendments to the Prohibition of Insider Trading Regulations, 2015. The maximum reward for information has been increased from the current Rs 1 crore to Rs 10 crore. Apart from this, changes have been approved in the rules of Infrastructure Investment Trusts (InVITs) and Real Estate Investment Trusts (REITs).
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