SEBI fined Nippon Life India Asset Management and its trustee for non-compliance with TER rules due to undercharged expenses for five ETFs.
SEBI fined Nippon Life India Asset Management Co and its trustee INR 3 lakh for non-compliance with Total Expense Ratio (TER) rules. The firm undercharged expenses for five ETFs, resulting in excess expenses for schemes. This violation of SEBI guidelines, which require AMCs to follow regulations without exception, led to the imposed penalties of INR 2 lakh on the AMC and INR 1 lakh on Nippon Life India Trustee.
August 08, 2024
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