Ch.3 · Custodian and RTA Functions · medium
What is the 'fit and proper' criterion that SEBI applies to mutual fund entities?
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EXPLANATION
SEBI's 'fit and proper' criteria assess whether sponsors, trustees, AMC directors, and key management personnel have the requisite financial integrity, professional competence, and track record — and have not been convicted of any economic offence or regulatory violation. This is a gatekeeping mechanism to ensure only responsible entities manage public money.
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