The securities market regulator’s recent proposal to distinguish between mutual fund distributors and investment advisors appears premature at best, and misdirected at worst, say distributors.
Last week, the Securities and Exchange Board of India said it wants to bring in rules that will clearly differentiate between distributors of mutual fund products, who earn commissions from a mutual fund company, and registered investment advisors (RIAs), who earn their fees from investors who buy products based on the advice given to them. To this end, SEBI published a consultation paper on Friday, proposing amendments to the SEBI (Investment Advisors) Regulations, 2013.

Source - http://www.thehindubusinessline.com