{"id":254906,"date":"2021-09-29T17:30:25","date_gmt":"2021-09-29T12:00:25","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=254906"},"modified":"2021-09-29T16:47:42","modified_gmt":"2021-09-29T11:17:42","slug":"sebi-issues-risk-management-framework-for-mutual-funds","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/29\/sebi-issues-risk-management-framework-for-mutual-funds\/","title":{"rendered":"SEBI issues Risk Management Framework for Mutual Funds"},"content":{"rendered":"<p style=\"text-align: justify;\">The Securities &amp; Exchange Board of India has revised the Risk Management Framework (RMF) for Mutual Funds vide circular dated September 27, 2021. The Circular provides a set of standards comprising the policies, procedures, risk management functions and roles and responsibilities of the management, the Board of Asset Management Companies (AMC) and the Board of Trustees. Key points of the Framework are:<\/p>\n<ul style=\"text-align: justify;\">\n<li>The AMCs shall perform a self-assessment of their RMF and practices and submit a report to their Board along with the roadmap for implementation of the framework.<\/li>\n<li>The elements of RMF have been segregated into \u2018mandatory elements\u2019 which should be implemented by the AMCs and \u2018recommendatory elements\u2019 which address other leading industry practices that can be considered for implementation by the AMCs.<\/li>\n<li>The self-assessment must be completed and the necessary systems must be in place at the AMCs to enable compliance with the provisions of this circular with effect from 1st January, 2022. However, AMCs may choose to adopt the provisions of this circular before the effective date.<\/li>\n<li>Compliance with the RMF should be reviewed annually by the AMC.<\/li>\n<li>Reports of such reviews shall be placed before the Board of AMC and Trustees for their consideration and appropriate directions. Trustees may forward the findings and steps taken to mitigate the risk along with their comments to SEBI in the half-yearly trustee reports.<\/li>\n<li>There shall be at least one CXO level officer identified to be responsible for the risk management of specific functions of the AMC\/Mutual Fund.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The framework will be effective from January 01, 2022.<\/p>\n<p style=\"text-align: justify;\">For details, refer to <a href=\"https:\/\/www.sebi.gov.in\/legal\/circulars\/sep-2021\/risk-management-framework-rmf-for-mutual-funds_52943.html\">Risk Management Framework (RMF) for Mutual Funds<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p style=\"text-align: justify;\"><span style=\"color: #0000ff;\">*Tanvi Singh, Editorial Assistant has reported this brief.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities &amp; Exchange Board of India has revised the Risk Management Framework (RMF) for Mutual Funds vide circular dated September 27, <\/p>\n","protected":false},"author":121,"featured_media":252507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[15642,5321,42748,2563],"class_list":["post-254906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-mutual-funds","tag-risk-management","tag-scc-blog","tag-SEBI"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEBI issues Risk Management Framework for Mutual Funds | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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the Unit-holders of the Mutual Fund Schemes","author":"Bhumika Indulia","date":"September 4, 2021","format":false,"excerpt":"On September 02, 2021, the Securities and Exchange Board of India (SEBI) has issued a circular regarding the Alignment of interest of Asset Management Companies (\u2018AMCs\u2019) with the Unitholders of the Mutual Fund Schemes. Regulation 25 of SEBI (Mutual Funds) Regulations,1996 (\u2018MF Regulations\u2019), asset management companies are required to invest\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":250441,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/06\/29\/sebi-circular-on-prudential-norms-for-liquidity-risk-management-for-open-ended-debt-schemes\/","url_meta":{"origin":254906,"position":1},"title":"SEBI | Circular on Prudential norms for liquidity risk management for open ended debt schemes","author":"Prachi Bhardwaj","date":"June 29, 2021","format":false,"excerpt":"The Securities and Exchange Board of India issued a circular on prudential norms for liquidity risk management for open ended debt schemes on June 25, 2021. The circular has specified norms regarding holding of liquid assets in open ended debt schemes & stress testing of open-ended debt schemes. \u00a0 A\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":254934,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/30\/sebi-issues-circular-on-swing-pricing-framework-for-mutual-fund-schemes\/","url_meta":{"origin":254906,"position":2},"title":"SEBI issues Circular on Swing pricing framework for mutual fund schemes","author":"Bhumika Indulia","date":"September 30, 2021","format":false,"excerpt":"On September 29, 2021, SEBI has issued a circular Swing pricing framework for mutual fund schemes. The Swing pricing framework was introduced for open ended debt mutual fund schemes (except overnight funds, Gilt funds and Gilt with 10-year maturity funds). 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circulars","author":"Editor","date":"July 2, 2024","format":false,"excerpt":"This Master Circular for Mutual Funds includes all previous guidelines\/directions that were included in the Master Circular dated 19-05-2023.","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Securities and Exchange Board of India","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Securities-and-Exchange-Board-of-India.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Securities-and-Exchange-Board-of-India.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Securities-and-Exchange-Board-of-India.webp?resize=525%2C300&ssl=1 1.5x, 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