AMFI Steps Up Surveillance After Front-Running Cases

The Association of Mutual Funds in India (AMFI) has unveiled standards for institutional mechanisms for the identification and deterrence of market abuse including front-running and fraudulent transactions in securities at asset management companies (AMCs).

Market regulator Securities and Exchange Board of India (SEBI) earlier this month announced that effective November 1, mutual funds will come under the ambit of the SEBI (Prohibition of Insider Trading) Regulations, 2015, popularly called PIT Regulations.

AMFI has now mandated stricter surveillance to curb front-running—a kind of insider trading where assets are bought and sold ahead of a large transaction in the asset—in mutual fund trades.

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