Sebi proposes an institutional mechanism for Amcs for the deterrence of possible market abuse and fraudulent transactions
He further suggested that the senior management of AMCs should be responsible for ensuring that an institutional mechanism is in place to detect and report possible misconduct by its employees, traders, securities brokers or any other related entity. .
Capital markets regulator Sebi on Saturday proposed that asset management companies (AMCs) set up monitoring and internal control systems to deter potential market abuse and fraudulent transactions.
He further suggested that the senior management of AMCs should be responsible for ensuring that an institutional mechanism is in place to detect and report possible misconduct by its employees, traders, securities brokers or any other related entity. .
In addition, AMCs should have appropriate mechanisms in place to escalate and report potential market abuse and fraudulent transactions in securities related to AMCs’ transactions, Sebi said in its consultation paper.
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