Sebi overhauls collective investment scheme rules, brings on par with MFs

The Securities and Exchange Board of India (Sebi) on Tuesday overhauled regulations governing collective investment schemes (CIS), bringing them on a par with the mutual fund (MF) regulations. The market regulator said the move will “remove regulatory arbitrage” between the two pooled investment vehicles.

Sebi’s board also approved amendments  to the Sebi Custodian  Regulations, 1996 to  enable  registered custodians to  provide custodial services in respect of silver exchange traded funds (ETFs) launched by domestic MFs. The board also made amendments to the  Listing Obligations and Disclosure Requirements (LODR) Regulations to ease the securities transmission process for investors and ensure uniformity