A recent thrust on 'clear segregation' between mutual fund advisory and distribution by the Securities and Exchange Board of India (Sebi) through a consultation paper has received mixed reactions from sector officials and experts.
Terming the paper as 'one of the harshest' in recent times, fund houses were taken aback by the regulator's move. At a time when everybody in the industry was under the impression that advisory, distribution and commission had been placed on the back burner, the recent development came as a surprise to many.
