Franklin Templeton offers unconditional apology to Sebi

Upset over Johnson’s comments made in the group’s quarterly earnings call where she said certain regulatory changes also contributed to its decision to shut the debt schemes, Sebi said that Franklin Templeton should focus on refunding investors.

Franklin Templeton India apologised to markets regulator Securities and Exchange Board of India (Sebi) over comments made by the company’s global chief executive Jenny Johnson, which the firm claimed were taken out of context.

Headquarters of Franklin Resources Inc., parent company of money management unit Franklin Templeton in San Mateo, California. (Bloomberg Phpto)

“We deeply regret any unintended slight this may have caused to the esteemed offices of Sebi whom we have always held in the highest regard and unconditionally apologise for the same,” the company said in a public statement on Friday.

Upset over Johnson’s comments made in the group’s quarterly earnings call where she said certain regulatory changes also contributed to its decision to shut the debt schemes, Sebi said that Franklin Templeton should focus on refunding investors.