Mumbai: The Securities and Exchange Board of India (SEBI) on Thursday gave three more months, till June 30, for liquid funds to comply with the requirement of holding at least 20 per cent of their assets in liquid assets like cash and government securities.
The new norm for improving risk management and ensuring adequate liquidity was to come into effect from April 1. Last September, SEBI made it mandatory for liquid funds to hold at least 20 per cent of their net assets in liquid assets.
In a circular, SEBI said that the existing open-ended mutual fund schemes need to comply with the revised limits for sector exposure by June 30.
Further, the timelines for submission of cyber-security audit reports, as mandated in SEBI circular dated January 10, 2019, is extended by two months, till August 31.
The security market regulator has also extended the timelines for filing scheme annual reports for the year 2019-20 by one month till August 31.
