SEBI Lays Down Uniform Compliance Reporting Framework for SIFs

The Securities and Exchange Board of India (SEBI) has introduced a uniform compliance reporting framework for Specialised Investment Funds (SIFs), aimed at improving disclosure consistency and strengthening regulatory oversight across asset management companies. 

Key Development 

Under the new framework, asset management companies managing SIFs will be required to follow the same reporting requirements that apply to mutual funds under the SEBI (Mutual Funds) Regulations, 1996.  

In addition, disclosures must align with the Mutual Fund Master Circular dated June 27, 2024, along with all related circulars and guidelines issued from time to time. 

SEBI’s reporting structure focuses on monitoring compliance across multiple asset classes, including equity, debt, derivatives, REITs and InvITs.  

It also brings SIFs under stricter scrutiny for branding, advertising and distribution practices, ensuring investors receive clear and consistent information. 

Governance and Oversight Measures 

The regulator has also strengthened trustee-level oversight by expanding the scope of the Half-Yearly Trustee Report through the introduction of a new Clause 72A.  

Trustees will now be required to explicitly confirm whether asset management companies possess adequate expertise, internal control systems and risk management capabilities to manage SIFs effectively. 

Trustee reporting will also cover compliance with investment limits, fee structures, disclosure standards, branding norms and investor protection measures specific to SIFs. 

Read More: SEBI Extends Timeline for Distributor Incentive Framework to March 1, 2026! 

Conclusion 

By aligning SIF reporting with mutual fund regulations and enhancing trustee accountability, SEBI aims to bring greater transparency, uniformity and governance discipline to the growing specialised investment fund segment, while ensuring stronger investor protection. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.