Photo: Abhijit Bhatlekar/MintMumbai: The Securities and Exchange Board of India (Sebi) on Thursday approved norms to improve governance in mutual funds and credit rating agencies and deepen the securities markets. For both mutual funds and credit raters, the markets regulator proposed to restrict cross-holding. Similarly, the regulator has capped cross-holding in credit rating agencies at 10%. This means no credit rater can hold more than 10% in other raters and no entity can hold more than 10% each in different credit rating agencies. However, pension funds, mutual funds and insurance schemes have been exempted from the cross-holding threshold.

Source: Mint December 28, 2017 15:50 UTC