MF disclaimers should flow at same speed as rest of ad: Goyal

Mumbai: Peeved at mutual funds rushing through disclaimers in television commercials, Union Minister Piyush Goyal on Wednesday said the critical information should flow at the same speed as the rest of the advertisement.

Goyal, who also holds the consumer affairs portfolio, added that he is willing to change the regulations if needed to ensure that the over Rs 37 lakh crore MF industry falls in line. "They (the ads) read out the disclaimer very, very fast which you can't even understand. The disclaimer should be prominent and at the same tone or speed as the rest of the advertisement. You can't rush through a disclaimer, it loses the purpose of the disclaimer," Goyal said while addressing an NSE event.

He asked the largest stock bourse of the country to engage with asset management companies on this issue and also offered changes in regulation to enable it. "If you need any help, I am happy to arrange for it through consumer protection rules from the consumer affairs ministry or the consumer protection laws," he said. "But it is imperative that investors should know or invest with their eyes open when they are coming into the exchange or any (financial) product," Goyal added.