India Caps Brokerage Fee on Cash Trades by Local Mutual Funds
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000SEBI capped payment to brokerages on cash trades at six basis points including all levies.India’s securities market regulator has halved the fee paid by domestic asset managers to brokerages, while also slashing the basic expense costs in one of the most sweeping revamp of rules governing the asset management industry. The Securities and Exchange Board of India capped payment to brokerages on cash trades at six basis points including all levies, down from 12 basis points, according to a statement released following its board meeting on Wednesday. The stock market regulator had earlier proposed a fee of two basis points on brokerage.