Exotic junkets, overseas and domestic, vouchers for sales targets, office furniture and other such incentives for mutual fund distributors will now be a thing of the past.
An October 22, a circular from the markets regulator SEBI said “MFs/ AMCs shall adopt full trail model of commission in all schemes, without payment of any upfront commission or upfronting of any trail commission, directly or indirectly, in cash or kind, through sponsorships, or any other route.”
