SEC to review recent decisions on MFs

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FE Report
The Securities and Exchange Commission (SEC) said it would reconsider the recent decisions on the mutual funds (MFs) including restriction of loan facilities against those funds, the investors said.
A group of small investors Sunday said they had individual discussions with two members of the SEC. Later, they had a meeting with the SEC chairman where the members were also present.
"We tried to make the chairman realize that the investors had purchased the units of mutual funds under margin loan facilities. Afterwards the instant restriction of giving margin loans against mutual funds downed the market, and for which the investors are not responsible," an investor of MF, told the FE.
"Besides, the latest restoration of margin loan facility for mutual funds is also inadequate," he added.
The investors also said the SEC chairman assured them of reconsidering the recent decisions.
The mutual funds had the highest fall of 4.92 per cent Sunday following the SEC's latest move.