Earlier this month, the Securities and Exchange Board of India (SEBI) clarified that online platforms offering direct plans of mutual funds (MFs) cannot charge any fees, either to investors or fund houses, except for advisory services. SEBI was responding to a letter sent by Paytm Money, which is registered with as an investment adviser (IA). Other online platforms also have IA licenses, and need to comply with SEBI’s regulations for IAs.
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