The Securities and Exchange Board of India (Sebi) sent two sets of queries to the fund manager based on a forensic audit of its investments, the people cited above said seeking anonymity. “Sebi had sent queries to Franklin on 5 August and 24 August based on the observations and findings of the forensic audit. Aggrieved investors complained to Sebi that Franklin had violated its norms, following which the regulator commissioned a forensic audit into the AMC’s conduct and investment decisions. “The forensic audit was for a period of 1 April 2018 to 23 April 2020. The forensic audit is a third-party document to which the fund house needs to reply for explanation and perspective.

Source: Mint September 14, 2020 01:07 UTC