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SEBI considers letting individual mutual fund distributors hold RIA licenses
The regulator is reviewing whether individual MFDs could carry dual licenses like institutions, as it streamlines rules for distributors and registered investment advisers.
India's capital markets regulator, SEBI, is weighing whether individual mutual fund distributors should be allowed to hold a registered investment adviser (RIA) license, according to two people familiar with the matter, as SEBI reviews how distribution and investment advice are regulated.
The proposal would let individual MFDs hold dual licenses, similar to those held by institutions and other non-individual entities.
SEBI set up a working group earlier this year to streamline norms governing mutual fund distributors and RIAs, and the discussions include whether individual distributors can also qualify for an investment adviser license, one person said.