A Sebi order lays the ground rules for AIF manager conduct
The recent exercise undertaken by SEBI translating into a consultation paper issued on December 5 dealing with benchmarking and standardisation of disclosures clearly suggest that the regulator is extremely serious about bringing transparency and accountability upon the fund managers.
Synopsis
The Private Placement Memorandum (“PPM”) for each fund is submitted and reviewed by SEBI prior to granting registration to the fund.
By SIDDHARTH SHAH / PRANAV SETHIThe AIF (alternative investment fund) industry has grown substantially over the last few years.However, the process of growth and evolution always comes with its own share of pain and learnings. In the context of AIFs, while there have been some adjudication orders/informal guidances in the past where the Securities and exchange Board of India (SEBI) has shared its interpretation of certain provisions the VCF/AIF
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