Kicking off its go green initiative, SEBI has directed asset management companies (AMCs) to e-mail copies of their scheme annual reports or abridged summary to unit holders.
SEBI also directed AMCs to obtain email addresses of those unit holders who have not provided them. It said, AMCs should ensure that unit holders are in the know that they would get scheme annual reports or abridged summary only by e-mail and that the unit holders were expected to register their e mail addresses with the AMC's database.
Investors who wished to have a physical copy of the reports were expected to indicate their preference and the AMC should ship the physical copy, said SEBI.
SEBI directed AMCs to ship physical copies of annual reports to all unit holders without an email id and also upload the reports on their respective Web sites.
SEBI clarified that AMCs should continue to allot units to applicants and confirm the number of units allotted by e-mail or SMS on or before five working days of the subscription closure date or date of receipt of request from the investor.
SEBI also directed the AMCs to ensure that investors were provided a consolidated account statement of every calendar month in folios where transactions had taken place during that month.