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  • MF News SEBI is open to receive ideas from distributors on consultation paper on RIA

    SEBI is open to receive ideas from distributors on consultation paper on RIA

    Ajay Tyagi, Chairman, SEBI, said the market regulator is open to receive suggestions from all stakeholders/AMCs, distributors and investors.
    Nishant Patnaik Jun 29, 2017

    There is some good news for mutual fund distributors.

    Ajay Tyagi, Chairman, SEBI, said that the market regulator is open to receive new ideas from all stakeholders, which includes AMCs, distributors and investors, on the consultation paper on investment advisors.

    He requested all stakeholders of the mutual fund industry to give feedback on the consultation paper. The SEBI Chairman was addressing the delegates in the first AMFI Mutual Fund Summit 2017 held today in Mumbai.

    Earlier this week, SEBI floated a consultation paper in which it has proposed to segregate fee based advisors and distributors who receive commission from AMCs.

    Ajay Tyagi said that the proposals are under consideration and nothing has been finalised yet. “Nothing has finalised on the proposals that the market regulator has made on the consultation paper on investment advisors. I request all stakeholders to kindly give their valuable feedback before the stipulated date,” he said.

    The market regulator has invited comments from the public before July 14, 2017. You can email your feedback to sebiria@sebi.gov.in or send it by post to Deputy General Manager, Investment Management Department, SEBI, SEBI Bhavan, Plot No. C4-A, G Block, BKC, Mumbai – 400051.

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    4 Comments
    Rakesh Kumar monga · 6 years ago `
    I a brocker got brockrag under 20lac in a year he should not to be need for regd under GST
    Viral · 6 years ago `
    Propsal is not appropriate from the ponit view of IFA as well as investors. If this comes in to existance the it will create problem for not only broker but for investor also.
    Following are some ponit that SEBI SHOULD consider before taking decision

    Servicibilty
    New customer engagement
    Increase unemployment
    Amc cannot handle soloy no of investors
    Ekta Sood · 6 years ago `
    Online ARN registration is not working.As far as RIA is concern-
    1.How many investor in India are willing to pay advisory fees?
    2.SEBI is expecting MF should reach rural areas,but is it possible without distributor?
    3.It will increase unemployment.
    4.I don't think RIA's will be interested in managing small investment.
    Vineet · 6 years ago `
    What is the problem if an advisor is gettig distribution income as commissions from MF companies and is also able to charge a certain amount as advisory fee from the customer.. the IFA is taking the burden of GST also.. I donot understand that why is GST being deducted from the commission we receive from AMC's.. it should be charged above the gross brokerage amouny and paid to the government.. the AMC will be getting the input credit of the GST they pay on our commission payment and may adjsut it with their gst output liability.. AMC must understand that by appointing PWC to handle the GST issue and by issuing a statement via AMFI and keeping only their self interest in mind will hamper the relation with the IFA community.. today whatever this industry is, it is because of IFA's like us.. Its high time when this thing should be realised by the AMC's and the governing bodies..!!
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