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Execution-only platform regulation mandates registration, KYC allocation, data governance, immediate order routing, and conflict controls for mutual fund direct plans. SEBI mandates a regulatory framework for Execution Only Platforms (EOPs) for transactions in direct plans of Mutual Funds, requiring registration as either Category 1 with AMFI (agents of AMCs, may aggregate transactions) or Category 2 as Stock Brokers under an EOP segment (agents of investors, no aggregation). The framework prescribes eligibility, KYC and onboarding responsibilities (with AMCs retaining KYC compliance for executed transactions), order routing and immediate execution rules, operational risk management, data governance, cybersecurity, disclosure limits on advertisements and recommendations, conflict-of-interest controls, fee constraints to flat non-ad-valorem charges, and specified record-keeping and reporting obligations.
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Execution-only platform regulation mandates registration, KYC allocation, data governance, immediate order routing, and conflict controls for mutual fund direct plans.
SEBI mandates a regulatory framework for Execution Only Platforms (EOPs) for transactions in direct plans of Mutual Funds, requiring registration as either Category 1 with AMFI (agents of AMCs, may aggregate transactions) or Category 2 as Stock Brokers under an EOP segment (agents of investors, no aggregation). The framework prescribes eligibility, KYC and onboarding responsibilities (with AMCs retaining KYC compliance for executed transactions), order routing and immediate execution rules, operational risk management, data governance, cybersecurity, disclosure limits on advertisements and recommendations, conflict-of-interest controls, fee constraints to flat non-ad-valorem charges, and specified record-keeping and reporting obligations.
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