A section of mutual fund distributors have written to mutual fund industry body Association of Mutual Funds in India (AMFI) and mutual fund CEOs saying that SEBI failed to conform with international standards before introducing the mandatory disclosure of commissions to investors norm. The Foundation of Independent Financial Advisors, which wrote the letter to AMFI and requested that it be forwarded to SEBI, questioned the regulator’s failure to hold a consultation process with the advisor community before introducing the new rules.
