SEBI Puts GETFs On Hold
SEBI is understood to have kept the introduction of gold funds on hold for now.
SEBI sources say that the regulator is yet to decide on an implementation strategy for the GETFs.
The issue that is holding up the SEBI is the fact that gold is not a "security" that comes under its mandate. The Forward Markets Commission is in charge of regulating gold. SEBI, however, is said to be not interested in handing over the regulation to the Commission.
If current indications are to go by, GETFs not likley to be lanuched for some time.