The Sebi has relaxed the regulatory framework for AIFs
Sebi has also directed all AIFs to appoint a compliance officer who will be someone other than the CEO.
On Friday, the Securities also Exchange Board of India (Sebi) relaxed the regulatory framework for alternative investment funds (AIFs) aimed at “accredited investors” those with an annual income of more than Rs 2 crore or a net worth of at least Rs 7.5 crore. Sebi has exempted ‘large value funds for accredited investors’ from filing their placement memorandum And instead requires them to notify the regulator about the launch of their scheme.
Furthermore, relaxed the conditions for such closed-end funds to extend their tenure beyond two years. Provide appropriate disclosures are made. Sebi has also directed all AIFs to appoint a compliance officer who will be someone other than the CEO. In a circular, stated, “The compliance officer shall be responsible for monitoring compliance with the provisions of the SEBI Act, AIF Regulations, also circulars.”
SEBI is a statutory body and market regulator that oversees India’s securities market.
Sebi’s primary functions are to protect the interests of securities investors and to promote and regulate the securities market. Them is control by a board of directors.
The board is create up of a Chairman and several other full also part-time members. The union government appoints the chairman. Other members include two from the finance ministry. One from the Reserve Bank of India, and five others nominated by the Centre. Sebi’s headquarters are in Mumbai, and regional offices are in Ahmedabad, Kolkata, Chennai, and Delhi.
