Amfi to block MF distributors indulging in 'splitting of transactions'

Amfi shall take necessary action i.e. blocking of such MF distributors for a period of six months: Sebi

File photo: PTI

The industry body has also asked the RTAs to verify the 'violators' data sent by the markets watchdog

Abhishek Kumar Mumbai
The Securities and Exchange Board of India (Sebi) has asked the Association of Mutual Funds in India (Amfi) to identify and block mutual fund (MF) distributors who indulge in 'splitting of transactions' for higher transaction fees. 

MF distributors are allowed to charge clients a transaction fee of Rs 100 to Rs 150 for every lumpsum investment or registration of a systematic investment plan (SIP) if the investment amount is above Rs 10,000. 

First Published: Sep 23 2022 | 8:20 PM IST

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