Sebi bans Franklin Templeton MF from launching new debt funds for 2 years


MUMBAI: The Securities and Exchange Board of India has banned Franklin Templeton Asset Management Company from launching debt mutual fund schemes for the next two years, said the final order of the regulator in the investigation of six debt funds wound up by the mutual fund.

Further, the regulator in its final order also said that the ban on the launch of new debt schemes, in the categories of the six schemes that were wound up by the mutual fund, will be applicable from the date that the mutual fund had ceased those schemes.

The regulator has imposed a monetary fine of Rs 5 crore on Franklin Templeton AMC, which has also been ordered to refund the investment management and advisory fees collected in the six debt schemes between June 4, 2018 and April 23, 2020.

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