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[SEBI] Online Registration Mechanism For Mutual Funds

SEBI has issued a circular no. SEBI/HO/IMD/DF3/CIR/P/2017/52 on June 01, 2017 regarding online registration mechanism for mutual funds. The contents of the said circular is reproduced as below:

1. Hon'ble Minister of Finance, Government of India, in his speech while presenting the Budget for FY 2017-18 on February 01, 2017, announced that the process of registration of financial market intermediaries will be made fully online by SEBI.

2. It has now been decided to operationalize SEBI Intermediary Portal (siportal .sebi .gov. in) for the entities to submit the mutual funds registration applications online. For registration of mutual funds the SEBI Intermediary Portal shall include online application for registration, processing of application, grant of in-principle approval, grant of final registration etc.Link for SEBI Intermediary Portal is also available on SEBI website.
3. SEBI Intermediary Portal for application of registration of Mutual Funds shall be made operational from June 01, 2017. Thereafter, all applications for registration of Mutual Fund shall be made through SEBI Intermediary Portal only.

4. The applicants will be separately required to submit relevant documents viz. declarations/ undertakings required as a part of application form prescribed in relevant regulations,in physical form only for records,without impacting the online processing of applications for registration.

5. In case of any queries and clarifications with regard to the SEBI Intermediary Portal, intermediaries may contact on 022-26449364 or may write at portal help@sebi .gov. in.

6. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, read with the provision of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests of investors in securities and to promote the development of and to regulate the securities market.

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