Custodian and RTA Functions
40 practice questions on this topic
What is the 'compliance officer' role in an AMC?
EXPLANATION
The Compliance Officer is a key function in every AMC — responsible for ensuring adherence to SEBI regulations, AMFI guidelines, internal policies, and the code of ethics. The Compliance Officer must have direct access to the Board and Trustees, files compliance reports to SEBI, and is personally accountable for regulatory violations. SEBI mandates that the Compliance Officer be a senior, qualified professional.
What is the 'SEBI approved valuation agency' for debt mutual funds?
EXPLANATION
SEBI requires that debt and money market instruments be valued using prices provided by SEBI-empanelled valuation agencies — CRISIL and ICRA. These agencies provide standardized market-based valuations that all AMCs must use, ensuring consistent and accurate NAV calculation across the industry and preventing AMCs from using favorable valuations selectively.
What is 'self-regulation' in the mutual fund industry context?
EXPLANATION
Self-regulation involves industry bodies (like AMFI) setting conduct standards and enforcing them among members, supplementing statutory regulation by SEBI. AMFI's Code of Conduct for distributors, ARN system, and investor education programs are examples of industry self-regulation. SEBI retains ultimate regulatory authority but benefits from industry-level compliance mechanisms.
Under which Act does SEBI derive its powers to regulate mutual funds?
What is SEBI's 'stewardship code' requirement for mutual fund AMCs?
What is the regulatory body that oversees mutual funds in India?
Can the same entity act as both Sponsor and AMC for a mutual fund?
What are 'SEBI's Investment Valuation Norms' for mutual fund portfolios?
What is the role of the Registrar and Transfer Agent (RTA) in a mutual fund?
What is an Auditor's role in the mutual fund structure?
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