Key Points

This move is expected to provide more flexibility to fund houses and portfolio managers while ensuring regulatory compliance.

According to SEBI’s latest circular, mutual funds will now have 15 calendar days from the end of each quarter to submit their daily data in a monthly file.

Earlier, this deadline was 10 calendar days. The change will help fund houses manage their reporting processes more efficiently.

Additionally, Registrar and Transfer Agents (RTAs) will continue to submit data on an ongoing basis.

SEBI has structured this data submission process as part of its offsite inspection and surveillance mechanism.

The data helps the regulator monitor compliance with mutual fund norms and maintain transparency in the market.

Mutual funds and the RTAs associated with them must submit data in the prescribed format as per SEBI’s guidelines.

Similarly, portfolio managers will also get 15 calendar days from the end of each quarter to submit their data.

They must furnish detailed reports for all clients, including day-wise data for categories such as ‘Client Folio AUM’ and ‘Client Holding Master’.

SEBI’s decision to extend the submission timelines is based on feedback from the industry.

"It has been decided to extend the timelines for submission of offsite inspection data," the SEBI stated.

The move is aimed at reducing compliance pressure while maintaining proper regulatory oversight of mutual funds and portfolio management services.

“The decision will come into force with immediate effect,” the market regulator said.

Meanwhile, according to reports, the market regulator is working on a new penalty system that would prevent brokerage firms from being fined multiple times for the same violation.

- IANS