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.

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.

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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.