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SEBI alters norms for debt, money market securities
The Securities and Exchange Board of India directed mutual funds to mark-to-market debt and money market securities with residual maturity of 91 days.
Updated on: Feb 2, 2010, 20:05:31 IST
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The Securities and Exchange Board of India (SEBI) directed mutual funds to mark-to-market debt and money market securities with residual maturity of 91 days.
The regulator, in a circular posted on its website, also asked mutual fund firms to disclose transaction details on a daily basis, including inter scheme transfers.
The changes will come into effect from July 1.
Currently, money market instruments are not mark-to-market. Also, only debt securities of above 182 days of maturity are subject to mark to market.
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