We are in discussions with all stakeholders: Jayant Sinha tells IFAs via Twitter

It is a nice move by IFA association of varanasi to take up the issue with minister. Let us expect some good response from the SEBI

Thanks to Mr Jayant Sinha as well the IFA Association of Varanasi...

Nice move by IFA association of Varanasi.
The Government Exempted Distributors earning upto Rs 10 lakh from Service Tax..
Hope they will give some good solution this time too.

I would like to thank varanasi ifa people for excelent job done. god bless

DISCLOSE COMMISSIONS NO ISSUE BUT APPLY THIS TO ALL ALL ALL FINANCIAL PRODUCTS AND ONCE FOR END THE MATTER

DISCLOSE COMMISSIONS NO ISSUE BUT APPLY THIS TO ALL ALL ALL FINANCIAL PRODUCTS AND ONCE FOR END THE MATTER

Thanks IFA of Varansi to excellent job

Thanks to Shri. Jayant Sinha as well the IFA Association of Varanasi.

Ifa's are lifeblood of mutual fund industry, disclosure of commision will hit market sentiment in big way, as investors will ask for clawback and with big amc's promoting direct plans in big way, will surely kick ifa's. which will eventually destroy MF Industry, sinse ifa's are lifeline of mutual fund industry. My sinsere request to sebi please keep in mind pros and cons of commison disclosure.

let disclose the client direct pan expenses ratio is more than regular plan. it is opportunity to us to disclose the commision on 1000rs sip to us. so we can take traveeling and other expenses from clients

All IFAs of Meerut , meet Local MP sh Rajender Agarwal and gave deatils of SEBI discloser of Mutual Fund Ind and Memorandum for PM

Very Good News. Hope it will serve the purpose.

SKIFAA-Saurashtra Kutch IFA's Association has been formed month a go and is very active. The committee has good mix of IFAs with wide industry experience and knowledge of different city.

Dear Sir

It is to bring to your notice about ridiculous, maligned and one sided circular being issued by market regulator SEBI to disclose mutual fund distributor’s commission in client statements going forward.

Currently, mutual fund distributors are already giving an annual disclosure to AMFI which states that we are disclosing commissions to investors. Also, AMCs disclose the commissions paid to the top 400 distributors on their websites. AMFI also publishes the aggregate commissions earned by these distributors across all AMCs.

Despite AMFI’s (industry and AMC body) plea to not go ahead with commission disclosure rule in account statements, SEBI has instructed AMCs to disclose commissions in half-yearly account statements.

The following points have come up for notice and review after this circular being passed:

1) Has SEBI received complaints from customers in regard of non-disclosure of commissions by distributors? If not, why the need for senseless circulars? And if yes, then why not punish the culprits rather than the whole industry.

2) Giving too much information to investors will only confuse them and resist them to take up services of MF distributors wherein they are guided and educated by our community to invest in mutual funds, provide consultancy services of picking up right funds depending on clients investment portfolio, past experience, income profile, life stage, risk profile, investment horizon, doing portfolio review and rebalancing, guiding the client in difficult times etc. Does SEBI think that such services are free in nature and IFA as a community should not be there in the first place? Let them reply in plain terms if distributors are required or not in the industry.

3) The move will be inducing pass back culture which only established distributors and big banks can afford. No more new distributors to join the industry. What happened to the idea of Skill India? Are we happy with less than 10000 active distributors in a country of more than 125 crore people? How does SEBI encourage new and professionally educated persons to join the industry?

4) Why doesn’t SEBI and IRDAI make it mandatory to disclose commissions across products like structured products, PMS, private equity (up to 4%), insurance plans (up to 35%) and NCDs (up to 6%) to disclose their commissions? Only mutual funds have been wealth creators among these ridiculously expensive products. All other products have proven to be wealth destructors. Why the regulators are biased against the Mutual Funds distributors only. Smells of rat.

5) The angle of corruption in SEBI board and officials is to be also checked. Its highly likely that the SEBI board, officials and chairman are bribed by big banks and AMC’s who want to get rid of the distributors which are their direct competition. That way they will start enjoying monopoly in mutual fund distribution. All at the expense of the investors and distributor community. Assets and liabilities of all SEBI officials, board members and chairman should be scrutinized by IB and concerned authorities.

6) There is already a provision of Direct Mutual Funds Plans in all categories for educated and well heeled investors who have high financial literacy and do not wish to take services of a distributor. Also, distributor’s income and commissions are capped through various provisions including maximum expense ratio of fund, capping on upfront commission etc. Then what is the purpose of such a disclosure to investors who have been educated and served over the years by distributors. Does the regulator considers distributors to be only taking up the service of educating and bringing new clients to the industry only to be grabbed up by direct plans lure in future. How does the regulator ensure continued income to distributors for their efforts to educate and bring the clients to the mutual fund industry?

We request you sir to look into the issue seriously and have all angles of SEBI circular being checked. We demand that this SEBI circular on commission disclosure be rolled back asap and no one should be allowed to destroy a budding industry and take away hard earned income of hard working people of India and also not to create disruptions in the market place in the name of investor protection.

SEBIS commission discloser-WHY? WHATS THE BENIFIT OF INVESTORE! ALL OVER INDIA NO ANY PRODUCT HAVE DISCLOSE OWN PROFIT , NO RETAIL SOP KEEPER DISCLOSE OWN PROFIT/COMMISSION ,NO HOLE SELLER DISCLOSED OWN COMMISSION , NO PHARMA COMPANY,NO PAINT COMPANY,NO ELICTRICAL COMPANY ETC DICLOSED . IF DISCLOSED THAN - WHATS THE BENIFIT ! ONLY FULISH DISSION ON IT! PASS BACK CULTURE COME BACK ---------! NO DICOSSION FOR WEALTH DEVELOPMENT, INVESTORE ARE DISCUSSED ONLY MAXIMUM PASS BACK------------------------!

I m conveying my heartful thanks to the Team of Varanasi IFAs, for this excellect initiate action. . .

Thanks to Mr Jayant Singha for quick reply as well as for great initiative to team of Varanasi IFAs

Sir ,If SEBI wants to make a disclosure of commission then why not the Govt. not taking any disciplined regulatory to make the control of price in medicines where the percentage of profit is about 40% and the lay man is suffering before taking such type of consideration one of member of IFA association must be included in the committee of regulatory body.

thanks IFA VARANAS.

many many thanks to team of Varanasi

Good news. Be optimstic

Thanks to Varanasi IFA association

Thanks to Varanasi IFA association

All associates like sponsor, trustee, AMC, regulator enjoy from our business.

If u want to disclose then disclose all expance where go include sponser earnings , AMC charge, fund manager charge, registar charge, sebi- amfi change if any.

Why only distributor discloser.

Thanks to Varanasi IFA association.
Please communicate to assess the brokerage/commission earned by intermediaries in various other financial products and other physical products and if it is found that the brokerage earned by IFAs are more than that in other areas, let the Govt /SEBI reduce the brokerage. If that earned by intermediaries in other sectors are higher, reduce their brokerage or commission. This will be the appropriate action, not to disclose commission or brokerage earned on account statements or on the packets of products.

GOOD NEWS