Sebi Slaps Rs 3 Lakh Penalty on Nippon Life India Over Expense Ratio Violations

The Securities and Exchange Board of India (Sebi) has fined Nippon Life India Asset Management Ltd and Nippon Life India Trustee Ltd a total of Rs 3 lakh for violating rules related to the total expense ratio (TER). The companies must pay the fines within 45 days.

The Securities and Exchange Board of India (Sebi) has penalized Nippon Life India Asset Management Ltd and Nippon Life India Trustee Ltd with a cumulative fine of Rs 3 lakh for TER-related violations.

Sebi's investigation revealed that Nippon Life charged less expense to some schemes, bearing the excess expenses itself, a move that breaches regulatory standards.

The companies have been instructed to settle the penalty within 45 days.

(With inputs from agencies.)