Sebi has increased its vigilance by conducting surprise inspections and examining the phones and laptops of key mutual fund executives.
Over the past year, five of the top ten mutual funds have been subjected to these inspections, with some top executives' mobile phones accessed by the capital market regulator.
It's important to note that these inspections differ from the search and seizure operations faced by Quant Mutual Fund in June.
Search and seizure operations are surveillance-based procedures triggered by the regulator's suspicion of certain trades or practices, requiring prima facie evidence and court permission.
The inspections, internally termed as "thematic inspections" by Sebi, involve the examination of records from multiple mutual funds to gather information on block deals, concurrent trades, and broker communications.
The goal is to analyze patterns and identify any irregularities or questionable practices that require further scrutiny.
These surprise physical inspections are conducted without prior notice, adding an element of unpredictability to the process.
SEBIvigilance #mutualfundinspections #capitalmarketregulator #thematicinspections #blockdeals #concurrenttrades #brokercommunications #irregularities #surpriseinspections #phoneexaminations #laptopexaminations #quantmutualfund #searchandseizure #regulatoryprocedures #practicesurveillance #courtpermission #topexecutives #mobilephoneaccess #unpredictableprocess #recordexaminations #patternanalysis
No comments:
Post a Comment