A regulatory framework for mutual funds
Date
1990-07-13Author
Barua, Samir K.
Venkiteswaran, N.
Varma, Jayanth R.
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One major change that has taken place in the financial services industry is the establishment of a large number
of mutual funds. Though only nationalised banks and financial institutions are permitted to set up these funds
there is increasing pressure to allow such funds to be set up in the private sector. It is time therefore to introduce
appropriate legislation to govern the functioning of mutual funds.
This paper discusses the various issues connected with the operation of mutual funds and proposes a set of
regulations to ensure that they are effective. The proposed regulations draw heavily on the Investment Company
Act of 1940, the US legislation on operation of investment companies.
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