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2024

Nippon Life India AMC fined for violating rules on total expense ratio

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The Securities and Exchange Board of India (Sebi) fined Nippon Life India Asset Management Company and its trustee ₹3 lakh for TER rule violations. Sebi discovered that the asset manager charged insufficient expenses to the actual expenses incurred by five ETFs. Nippon Life AMC defended the charges, stating there was no clear restriction on AMC bearing such expenses.