Sebi amends mutual fund rules to curb front-running, insider trading

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Sebi amends mutual fund rules to curb front-running, insider trading - Business Standard

Quick Summary:

In a gazette notification dated August 1, Sebi said, "Asset management companies shall put in place an institutional mechanism, as may be specified by the Board, for the identification and deterrence of potential market abuse including front-running and fraudulent transactions in securities".

Capital markets regulator Sebi has amended mutual fund norms requiring Asset Management Companies (AMCs) to put in place an institutional mechanism to identify and deter front-running and insider trading in securities.

This came in the wake of Sebi's passing two orders regarding front-running cases involving Axis AMC and Life Insurance Corporation of India (LIC).