While this was under consideration for a long time, the move came after large investors, particularly from the United States, flagged these concerns.
Sahara had previously told the court that it had refunded most of the money it collected from investors and submitted relevant documents to SEBI.
The recovery proceedings have been initiated against these individuals after they failed to pay the fines imposed on them.
In its letter to Sebi, Anmi said the implementation of the new system would increase working capital requirements for brokers and enhance the work load on the banks and depository participants (DPs).
The new category will allow existing funds to continue without restrictions in portfolio, save for just tweaking the name.
Indian mutual fund investors will now have a greater opportunity to derive the potential benefits, and risks, from exposure to the international markets.
While imposing the Rs 2 lakh fine, Sebi, in its 11-page order, said that Alexander and his wife were not in possession of any UPSI.
Further, portfolio managers need to furnish periodically a report to clients, as per the agreement, but not exceeding a period of three months.
Noting that this position is based on the information furnished, Sebi said, "different facts or conditions might lead to a different interpretation".
The prospectus permitted the interim deployment of proceeds as an investment in liquid instruments only and did not permit such deployment of funds as ICDs.
An exchange-traded fund (ETF) is a collection of securities people can buy or sell through a brokerage firm on a stock exchange.
The Indian IPO market continues to remain active with a number of new firms registering applications to go public.
In the instant case, transactions exceeded the value of Rs 10 lakh on two occasions and were required to be disclosed within two days, but she failed to do so.
Economy will not revive smartly unless govt puts money in the hands of bottom half of families in India: Chidambaram
Taking a dig at the RBI governor, Sebi chief and DEA secretary who spoke on economic revival, Chidambaram said he wishes economy was a circus lion that responds to ringmaster's stick.
The order follows an investigation conducted by Sebi in respect of trading of certain entities in the scrip of Bharti Airtel Ltd to ascertain alleged violation of Prohibition of Insider Trading norms