On Nov. 1, IND SEBI issued the revised scheme information form.
IND SEBI issued a circular on simplification and streamlining of offer documents of mutual fund schemes, in order to ease the burden of preparing the documents.
Overview of Circular
Presents the simplified and rationalized scheme information document (SID) form.
Details modified clauses of IND SEBI master circular dated May 19, 2023.
The Association of Mutual Funds in India (AMFI) shall make necessary changes in statement of additional information (SAI), key information memorandum (KIM) forms.
The updated SID, SAI, KIM forms will be effective on Apr. 1, 2024.
Draft SIDs shall be filed to IND SEBI no later than Mar. 31, 2024, while for existing SIDs, firms can use the old SID form, provided that the SIDs are updated based on data as of Mar. 31, 2024 and submitted to IND SEBI by Apr. 30, 2024.
Mar. 2024 Timeline Extended
On Mar. 12, 2024, IND SEBI extended the timeline for updating certain form fomats.
Decided that the updated format for SID/KIM/SAI be extended to Jun. 1, 2024.
Drafted SID to be filed with IND SEBI on/before May 31, 2024 or SIDs already filed or SIDs with final observations received, can use SID old format; existing SID by Jun. 30.
The scheduled updating of SID/KIM for half year ended Mar. 31, 2024, may be carried out by Jun. 30, 2024; this extension only applicable to half year ended Mar. 31, 2024.
