SEBI asked CRA to give a 30-day notice before withdrawal of ratings for open-ended mutual funds
Apr 03 2017
News Category: Regulatory Updates
Securities and Exchange Board of India (SEBI) has asked credit rating agencies (CRA) to give a 30-day notice before withdrawal of ratings in case of open-ended mutual funds. The decision has been taken in consultation with CRAs and representations received from the industry. SEBI said withdrawal of rating is permitted in case of open-ended mutual fund scheme, as they are continuous in nature with no specified maturity period.