https://www.taxtmi.com/circulars?id=66411 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. en-us Tue, 13 Jun 2023 00:00:00 +0530 Tue, 13 Jun 2023 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66411 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. Circulars SEBI Tue, 13 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66411