13 Feb 2008
SEBI issues advisory on Art Funds
SEBI has advised investors with regard to their investments in Art Funds that Art Funds are Collective Investment Schemes as defined under the SEBI Act. At present, no entity has registered with SEBI, under the SEBI (Collective Investment Schemes) Regulations.
Launching / floating of Art Funds or Schemes without obtaining registration from SEBI amounts to violation of SEBI Act and Regulations. Appropriate actions, civil and criminal, under the SEBI Act may be taken by SEBI against such funds / companies.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment