Capital market regulator Sebi has recently received a formal complaint against ICICI Prudential Asset Management (AMC), filed by Altus Wealth and Insurance Marketing, a distributor of financial products, alleging that the asset manager - largest by AUM - failed to disclose a pending trademark dispute in its draft red herring prospectus (DRHP).

Sources told Moneycontrol that Altus Wealth has alleged in its complaint that ICICI Prudential AMC’s DRHP contains “incomplete, misleading and materially inaccurate disclosures”, omitting details of the ongoing dispute relating to the use of the ‘Pru’ trademark. The omission, the complainant claims, has a direct bearing on proprietary rights, intellectual property, and brand goodwill created by Altus.

In its submission to Sebi, Altus said that th

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