New Delhi: Seeking to put in place a stricter regulatory framework for collective investment schemes, markets watchdog Sebi has decided to enhance the net worth criteria and track record requirements for entities managing such schemes.

The regulator has also approved changes to listing obligations and disclosure requirement regulations for simplification of procedure for transmission of securities. It also gave the nod to amend regulations to enable Sebi-registered custodians to provide custodial services in respect of silver or silver-related instruments held by silver ETFs of mutual funds.

These decisions were taken at a board meeting of Sebi held on Tuesday. Amid instances of investors getting defrauded by fraudulent money pooling schemes, the regulator would also restrict a Collective Investment Management Company (CIMC) and its group/associates/shareholders' shareholding in a scheme at 10 per cent or representation on the board of another CIMC to avoid conflict of interest.