SEBI Board Meeting: Mutual Funds Lite, New Asset Class, T+0 Settlement Updates—Key Highlights
From introducing Mutual Funds Lite to providing updates on T+0 settlement, here are the major takeaways from the SEBI board meeting.
The Securities and Exchange Board of India on Monday approved a slew of changes to ease regulatory compliance, introduce a new asset class and make it easier for mutual funds to offer passively managed schemes.
SEBI Board's Key Decisions:
Investors can now trade using either the UPI block mechanism, which is similar to ASBA, or the 3-in-1 trading facility, in addition to the current methods. Qualified stock brokers must offer one of these two options.
The number of scrips eligible for trading under the optional T+0 settlement will be increased in a phased manner from the 25 to the top 500 in terms of market capitalisation. All registered brokers can offer access to the optional T+0 settlement cycle to their investors.
A new regulatory framework was introduced for a new investment product/asset class.
Introduction of the Mutual Funds Lite framework for passively managed schemes.
SEBI will now accept self-attestation instead of notarised or gazetted officer-certified documents.
(This is a developing story. More updates to follow.)
