Religare MF gets Sebi rap for non-compliance

Religare MF gets Sebi rap for non-compliance

Mumbai: Securities and Exchange Board of India (Sebi) on Wednesday issued a statement saying it has disposed of proceedings against Religare Mutual Fund, which allegedly violated regulations governing mutual fund advertising. In its conclusion of the proceedings, Sebi has warned the firm and its chief executive officer Saurabh Nanavati to abide by the regulatory norms regarding advertisements. In November, Sebi had issued a showcause notice to Religare Mutual Fund for non-compliance with norms while advertising for one of its schemes.

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