SEBI calls for greater governance norms for MF industry

Market regulator SEBI on Wednesday said that “greater governance norms” were required for investors to maintain their trust in the growing mutual fund (MF) industry.

“As the MF industry grows, we need greater governance norms to keep the faith and trust of investors,” said Ajay Tyagi, Chairman, Securities and Exchange Board of India (SEBI).

Tyagi spoke at the inaugural session of 14th CAPAM — the Annual Capital Market Conference — organised here by Ficci.

According to Tyagi, a committee has been set up to look at the “corporate governance” aspect and its report is expected shortly.

Another important issue raised by Tyagi was the need for institutional investors to play a role in the governance of their investing companies.

“SEBI would like uniform norms for all institutional investors,” Tyagi said.

On Fintech, the SEBI Chairman said that it is changing the way financial markets function and that a committee is advising SEBI on an ongoing basis in this regards.

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