sebi:IMD/JPM/AO/SBM-ASR/EAD-3/CO-01/2017
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Facts / Headnote
Disposed of by settlement
Regulations
- Reg. 3
- Reg. 31
- Reg. 28(1)
- Reg. 32
- Reg. 15
- Reg. 17
Parties
- J.P.Morgan Mutual Fund
Holding
In terms of Regulation 15(1) of the Settlement Regulations, 2014, the adjudication proceedings initiated against J.P.Morgan Mutual Fund vide SCN ref. A&E/EAD-3/SBM-ASR/17317/2015 dated June 23, 2015 are disposed of on payment of Rs. 91,80,000 and voluntary debarment from issuing new schemes for one year from the date of consent order.
Full text
Page 2 of 5 2. In this regard, a Show Cause Notice ref. A&E/EAD-3/SBM- ASR/17317/2015 dated June 23, 2015 (hereinafter referred to as ‘SCN’) was issued to the applicant. It was alleged in the SCN that the applicant, along with the Trustee and the AMC have failed to comply with certain provisions of the MF Regulations and various SEBI Circulars, as mentioned above.
Page 3 of 5 (b) It was alleged that on July 21, 2014, the AMC filed a copy of the SID without mentioning the opening and closing date of the NFO, which is in non-compliance with the provisions of the SEBI circular SEBI/IMD/CIR No. 10/178129/09 dated September 29, 2009 on Statement of additional information (SAI) & Scheme Information Document (SID).
Page 4 of 5 for a period of one year from the date of consent order were communicated to the authorised representatives of the applicant. The applicant vide letter dated February 18, 2016 proposed payment of Rs. Rs. 91,80,000/- (Rupees Ninety One Lakh and Eighty Thousand Only) and also voluntary debarment from issuing of new schemes for a period of one year from the date of consent order towards full and final settlement of all regulatory, civil or criminal proceedings in relation to the
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Source: SecMarx — sebi:IMD/JPM/AO/SBM-ASR/EAD-3/CO-01/2017. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.