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Sebi tightens front-running regulations for AMCs to check market abuse
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The decision was taken on Tuesday at the 205th meeting of the Sebi board held in Mumbai. Under the mechanism, the AMCs will be required to ensure enhanced surveillance systems, internal control procedures and escalation processes to identify, monitor and address specific types of misconduct, including front-running, insider trading and misuse of sensitive information, among other things.
The Sebi board also approved amendments to the regulations to enhance responsibility and accountability of management of AMCs for such an institutional mechanism. The AMCS will also be required to have a whistle blower process to foster transparency.
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