The Securities and Exchange Board of India (SEBI) has requested custodians of alternative investment funds (AIFs) to provide specific investment information. SEBI wants custodians to disclose the names of the investee companies and the amount invested in each company. They are also required to provide details about the available surplus at the time of investment. SEBI is interested in knowing if the investee company has any association with the fund.
SEBI has two purposes for requesting this information. The first is to enhance its oversight of AIFs. The second is to ensure compliance with applicable regulations. Additionally, the data will assist SEBI in monitoring the inflow and outflow of funds in AIFs. This will help in detecting potential money laundering or other financial offenses.
Custodians of AIFs have been granted a deadline of July 15, 2023, to furnish the requested information to SEBI.
SEBI is seeking this information for several reasons. One reason is to monitor the movement of funds in AIFs. This helps in detecting potential money laundering or financial crimes. Another reason is to ensure compliance with relevant regulations. For example, AIFs are required to invest in diversified portfolios. Additionally, Securities and Exchange Board of India aims to assess the risk levels of AIFs and prevent excessive risk-taking. Lastly, the information gathered will be used to develop new regulations for AIFs.
Securities and Exchange Board of India is not requesting any confidential information from AIF custodians. The information requested is publicly available. The requested information is not anticipated to have any negative impact on AIFs or their investors.
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