SEBI restores validity period of observation letter for launching new fund offers
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Circular No. SEBI/HO/IMD/IMD-II DOF3/P/CIR/2021/698, Dated: 22.12.2021
Based on consultation with stakeholders, the SEBI has decided to restore the validity period of the observation letter issued by SEBI to six months for the launching of New Fund Offers (NFOs). Earlier, SEBI vide. Circular SEBI/HO/IMD/DF3/CIR/P/2 dated March 23, 2020, had extended the validity period of the observation letter issued by SEBI for the launch of all NFOs from six months to one year from the date of the SEBI letter. This circular shall come into force with immediate effect. However, for all schemes (NFOs) where SEBI has already issued observation letters and NFOs are yet to be launched, the schemes shall be launched within one year from the date of the SEBI observation letter, said SEBI.
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