Venture Intelligence (TSJ Media Pvt. Ltd.)
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Sebi proposes direct reporting of AIFs' PPM changes
Securities and Exchange Board of India (Sebi) has proposed that certain changes in the private placement memorandum (PPM) of alternative investment funds (AIFs) can be submitted directly to the regulator rather than through a merchant banker. The proposed move would rationalise the cost of compliance for AIFs.These included changes in the size of the fund, information related to affiliates, commitment period, key investment team of the manager and key management personnel of AIF, and reduction in expense or fee or cost charged to fund/investors. Additionally, changes in contact details of AIF, sponsor, manager, trustee or custodian, risk factors and track records of investment manager, among others, are not required to be filed through a merchant banker.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.