It has already released consultation papers on both sets of regulations.
In October, the regulator issued a consultation paper proposing an overhaul of mutual fund rules, including a clearer definition of the total expense ratio (TER) and revised limits on brokerage charges.
“We will relook at the proposal,” said an official.
Sebi has suggested excluding all statutory levies such as Securities Transaction Tax, Goods and Services Tax, Commodities Transaction Tax and stamp duty from the total expense ratio limits, along with currently permissible expenses for brokerage, exchange, and regulatory fees.
Industry has expressed concern over the move. The regulator recently extended the deadline for public comments on the proposal to November 24 from November 17 earlier. In addition to mutual fund rules, the board will also take up the proposal to review the 1992 stock broker regulations. As part of this revamp, Sebi proposed introducing a definition for ‘algorithmic trading’ to streamline compliance requirements, as the current framework lacks any such clarity.
“Regulations for stock brokers were framed 30 years ago and Sebi is looking to update them,” the official said, adding that the idea was to bring ease of doing business while removing antiquated provisions.
The December 17 meeting will also consider the report of a high-level panel that examined conflict-of-interest safeguards within the organisation.
