Sebi to regulate mutual fund sale

Aug. 16: Securities and Exchange Board of India (Sebi) chairman M. Damodaran on Thursday said that a regulator authority will be formed for the distribution of mutual funds schemes. The proposed regulator and Association of Mutual Funds in India will evolve a model code of conduct for mutual fund agents and distributors. It aimed at preventing mis-selling of MF schemes in order to protect the investors’ interest.