Stamps And Antiques Investment To Come Under The Scanner Of SEBI ?

SEBI [ Securities And Stock Exchange Board Of India] is looking into options for framing a stringent set of rules for funds investing in art works, antiques, coins and stamps, with an aim to check black money flow into these products and safeguard the interest of genuine investors according to a news report filed By The Business Daily Of India “The Economic Times”.

According to the report SEBI considers investment funds which are focused on art and paintings, antiques, coins and stamps as "Collective Investment Schemes", which come under the purview of the capital market regulator.

SEBI wants to the control the flow of illicit wealth into these funds and also a high level of risk posed by them to the general investors.SEBI is considering framing a specific set of regulations for these funds, a senior official said to the economic times.Click here to read full article