sebi:IMD/JPM/AO/SBM-ASR/EAD-3/CO-03/2017
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Facts / Headnote
Adjudication proceedings settled and disposed of on payment of settlement charges and voluntary debarment
Regulations
- Reg. 3
- Reg. 17
- Reg. 15
- Reg. 31
- Reg. 32
- Reg. 28(1)
Parties
- J.P.Morgan Asset Management India Private Limited
Holding
In terms of Regulation 15(1) of the Settlement Regulations, 2014, the adjudication proceedings initiated against J.P.Morgan Asset Management India Private Limited vide SCN ref. A&E/EAD-3/SBM-ASR/17317/2015/2 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/17317/2015/2 dated June 23, 2015 (hereinafter referred to as ‘SCN’) was issued to the applicant. It was alleged in the SCN that the applicant, in its capacity of being the AMC of J.P.Morgan Mutual Fund along with J.P.Morgan Mutual Fund and the Trustee have failed to comply with certain provisions of the MF Regulations and various SEBI Circulars, as mentioned above.
Page 3 of 5 It was therefore alleged that the applicant had violated the provisions of regulation 31 of the MF Regulations.
Page 4 of 5 settlement terms of Rs. 91,80,000/- (Rupees Ninety One Lakh and Eighty Thousand Only) calculated as per the Settlement Regulations and voluntary debarment of the applicant from issuing of new schemes 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-03/2017. 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.