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of <h1>SEBI Implements New Rules for Mutual Fund Commissions: No Entry Loads, Direct Distributor Payments, Effective August 1, 2009.</h1> The Securities and Exchange Board of India (SEBI) issued a circular to enhance transparency in mutual fund commission payments and load structures, effective August 1, 2009. Key measures include the elimination of entry loads for mutual fund schemes and requiring investors to directly pay distributors based on service quality. A maximum of 1% of redemption proceeds from exit loads or Contingent Deferred Sales Charges (CDSC) can be used for distributor commissions, with any surplus credited to the scheme. Distributors must disclose all commissions for various mutual fund schemes. Asset Management Companies (AMCs) must update relevant documents and ensure compliance.
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