Sebi plans fast track nod for MF schemes

 Most developed markets have similar models. For instance, as per the system in Australia, the prospectus is only needed to be lodged with the Australian Securities and Investments Commissions, passing the full responsibility on ensuring compliance to the product provider. The regulator merely retains the power to require amendments to product
disclosure statements and to place 'stop order' on any PDS, meaning it is incapable of accepting new investments.

The American Securities and Exchange Commission vets the document and they also do not "clear" it, once he AMC files the draft offering document. In Korea, the mutual fund industry self regulatory organisation goes through the proposed offer documents and after the approval, it is filed with the regulator and launched soon after.

Business Standard Reported It First: MF products to be on fast track