**Summary:**
This Securities and Exchange Board of India (SEBI) circular, dated September 01, 2020, ref: SEBI/HO/IMD/DF4/CIR/P/2020/163, modifies disclosure requirements for debt and money market securities transactions by Mutual Funds and Asset Management Companies (AMCs). The circular amends the previous requirement of disclosing transaction details with a 30-day lag, mandating instead a 15-day lag. The disclosure, which includes inter-scheme transfers, must adhere to a revised format as outlined in Annexure A and be presented in a comparable, downloadable spreadsheet, and machine-readable format. This enhanced transparency measure takes effect on October 01, 2020. The circular is issued under Section 11(1) of the Securities and Exchange Board of India Act, 1992, and Regulation 77 of SEBI Mutual Funds Regulations, 1996. For further information, Lamber Singh, Deputy General Manager, can be contacted via email at lambers@sebi.gov.in.
Key Entities Referenced
Securities and Exchange Board of India: Regulatory body for securities market in India; issuer of the circular.
Mutual Funds: Entities regulated by SEBI, addressed in the circular.
Asset Management Companies: Entities managing the Mutual Funds, addressed in the circular.
Association of Mutual Funds in India: Industry association for mutual funds in India.
SEBI Mutual Funds Regulations, 1996: Regulations under which SEBI operates regarding mutual funds.
Securities and Exchange Board of India Act, 1992: Act of Parliament that established SEBI and defines its powers.
debt and money market securities: Financial instruments which are subject of disclosure as per the circular
October 01, 2020: Effective date of the circular.
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Securities and Exchange Board of India
CIRCULAR
SEBI/HO/IMD/DF4/CIR/P/2020/163 September 01, 2020
All Mutual Funds/ Asset Management Companies (AMCs)/
Trustee Companies/ Boards of Trustees of Mutual Funds
Association of Mutual Funds in India (AMFI)
Sir/ Madam,
Sub: Review of debt and money market securities transactions disclosure
1. SEBI vide circular no.Cir/IMD/DF/6/2012 dated February 28, 2012 prescribed
format to disclose all details of debt and money market securities transacted
(including inter scheme transfers) in its schemes portfolio on daily basis with
a time lag of 30 days.
2. In order to further enhance transparency, it is now decided that the details of
debt and money market securities transacted (including inter scheme
transfers) in its schemes portfolio shall be disclosed on daily basis with a
time lag of 15 days in a revised format as prescribed in Annexure A.
3. The above disclosure shall be in a comparable, downloadable (spreadsheet)
and machine readable format.
4. This circular shall come in to effect from October 01, 2020.
5. This circular is issued in exercise of powers conferred under Section 11 (1) of
the Securities and Exchange Board of India Act, 1992, read with the
provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to
protect the interests of investors in securities and to promote the
development of, and to regulate the securities market.
Yours faithfully,
Lamber Singh
Deputy General Manager
Email: lambers@sebi.gov.in
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