Sebi fines DSP group firms Rs 1 lakh for charging TER from AMC books

Sebi noted the defaulters paid 0.09% expenses of the scheme out of 0.16% from their own books in case of DSP Nifty 50 ETF

The Securities and Exchange Board of India (Sebi) has imposed a penalty of Rs 1 lakh each on DSP Investment Managers Private Limited and DSP Trustee Private Limited for charging total expense ratio (TER) to the books of DSP Mutual Fund.
 

Sebi, in its order, noted that the defaulters paid 0.09 per cent expenses of the scheme out of 0.16 per cent from their own books in case of DSP Nifty 50 ETF.
 

The capital markets regulator noted that this practice has the potential to create anomalies in the mutual fund industry as profitable asset management companies (AMC), with deep