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Sebi prevents unregistered investment advisers from functioning

The mutual fund industry is affected by Sebi's new decision. Sebi addressed the concerns of conflict of interest that continue to plague the quality of advice on its board meeting which was held on 17 Feb. It decided that distributors who receive a commission from the AMC also provide advice or when registered investment advisors who provide advice for a fee also act as distributors. Corporate investment advisers can now decide whether they want to provide advisory or distribution services.

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