 "sebi")
The Securities and Exchange Board of India (Sebi) has clarified that trail commissions can be upfronted for Systematic Investment Plans (SIPs) of up to Rs 3,000 per month, per scheme, for first-time investors in mutual fund schemes.
Only the first SIP purchased by the investor shall be eligible for upfronting and in case of multiple SIPs being purchased on different dates, the SIP in respect of which the installment starts on the earliest date shall be considered for upfronting, the regulator has said.
The said commission should be charged to the scheme as 'commissions' and should account for computing the
