That was a good and great disscussion happened. Welcome the new SRO regulator.

Investor education is an important issue which has not been addressed by any one to ensure investor understands what he does when he is asked to invest i n a particular instrument. By and large they trust Banks and Large National distributors believing such institutions employees are Gurus, and the truth is far from this. Invariably employees of these institutions sell to reach targets or increase revenue for the institutions they work for. I have been witness to such selling on more than one occasion. As Mr. Dhuruv said Seller beware, buyer should be educated sufficiently to be aware of what he is doing and I think SRO can play a major role in this regard.

We welcome SRO. The following issues need reddressal: 1.Passback-either find ways to effectively ban it or else allow it so that atleast it could be claimed as a valid expense for IT purpose. 2. Misselling-at banks and institutions require correction course. 3.Amfi-role and relevance need to be redefined post SRO. An industry body on the lines of Nasscom should be formed having representation from all the stakeholders for safeguarding industry interests. 4.Documentation requirements, Procedural aspects need complete overhaul with standard industry norms/forms and doing away with colour coding to facilitate investors interest. 5.Direct Plans, EUIN for IFAs, Advisory module, require intensive and immediate review. We hope for better days ahead.

Very interesting & thought provoking indeed. Regulation per se is not bad but in fact required in a form that it needs to be consultative, takes all interests on board viz. Investors, Distributors, AMCs, Service providers & all others concerned, inclusive, fair & just. I think Harshendu Bindal has it absolutely right. Please look into the following:- 1. Avoid multiple agency regulation 2. Set up a widely agreed frame work of regulation. 3. Make it broadbased in representation which includes people not only from the Regulator & Distribution but also from the Investor Community, Service providers & Product innovators which will make it come Full Circle & near perfection. 4. Bring in transparency in functioning & fixed frequency of regulatory changes than interim changes. 5. Bring in uniform & simple documentation requirements for both Investors & Distributors to increase penetration 6. Simplify & unify across the board procedural formalities like forms etc. across all AMCs

SRO can be a good communication link between the industry players and the regulator simultaneously it will play a role for positive development understanding the requirement and positioning the same in right way.

Any SRO cannot now undo the damage inflicted by continuous mindless regulatory changes. There is no reason for the number of ARN holders to grow from 50000 to 1000000. It wont be a surprise if the number of ARN holder dwindles even from here. Let the SRO first take care of the surviving ARN holders. How long are we going to live in denial about the compensation just being inadequate for the ARN holders. It is all very well to be optimistic about the future; but it is far more important to be realistic. Why did the number of ARN holders fall? Surely, neither were all corrupt nor incompetent.

thanking you sirs. WAITING AN NEW ERA OF MUTUAL FUND INDUSTRIES BY SRO OF DISTRIBUTORS .I HOBE IT IS A BRIGHT FUTURE AND TURNIG POINT IN THE FIELD OF MF.