Regulator sends out a clear signal—fund houses cannot trample all over investor rights and hope to get away with it.
7 June 2021. A day that the mutual fund industry in India is unlikely to forget in a hurry. It is the day when the law finally caught up with Franklin Templeton India, which shuttered six of its debt mutual fund schemes in a sudden move a little over a year ago, leaving thousands of investors high and dry.
On Monday evening, the Securities and Exchange Board of India came out with two orders running into over 100 pages, holding the fund house guilty of a gamut of serious lapses in the way it ran its fixed income schemes and …
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com