The second term extended to U K Sinha for Sebi chief may not have brought cheers to the mutual fund industry as it fears market regulator will now go ahead with implementation of contentious proposals like making distributor commissions part of investor statement and moving towards an advisory-based commission structure.
"We feel that Sebi wants to do away with distributors' commission and wants the industry to shift completely to the advisory-based structure. The regulator has made its intention quite clear at various public foras. We could now see actions as the current chief has got a year's extension. The industry may not be ready for such a drastic step," said a senior official at fund house.
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