Fund managers may get their smartphones back
Capital markets regulator Securities and Exchange Board of India plans to ease a rule that will make fund managers breathe a little easier. In a consultation paper, Sebi said it may allow asset management companies (AMCs) to relax the present practice of recording all communications by fund managers and barring access to personal mobile phones during market hours. The lack of access to phones has been a major pain point for fund managers, given that their usage goes beyond calling — from making financial transactions to conducting numerous day-to-day affairs. Many AMCs may refuse to relax the provision to stay on the safe side.
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