SEBI Directs AIFs and Their Managers to Exercise Specific Due Diligence w.r.t Investors and Investments of AIF
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- Last Updated on 10 October, 2024
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Circular No. SEBI/HO/AFD/AFD-POD-1/P/CIR/2024/135; Dated: 08.10.2024
SEBI has directed Alternative Investment Funds (AIFs) and their managers to exercise specific due diligence with respect to investors and investments to prevent circumvention of various laws and ensure compliance with regulatory frameworks. Under this, AIFs designated as Qualified Institutional Buyers (QIBs) or Qualified Buyers (QBs) must ensure that investors who are not eligible for QIB or QB status on their own do not avail of the respective benefits through the AIF.
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