SEBI CeFCoM Sees Slow Uptake Nine Months On
Why in the news
Roughly nine months after launch, SEBI’s fee-collection mechanism for advisers has drawn few users.
Key facts
- CeFCoM: centralised fee collection mechanism, launched 1 October 2024.
- Managed by BSE Ltd and MF Utilities India (MFU).
- Meant to shield investors from unregistered advisers and analysts through a closed channel for RIAs and RAs.
Platform features
- Web portal with full-stack API integration.
- E-mandates, ad-hoc and recurring payments, including UPI.
- Yearly subscription about ₹7,499, with a consolidated dashboard.
Why uptake is low
- Usage is optional.
- Little promotion so far, as MFU CEO Ganesh Ram admitted.
- Some advisers choose cheaper, quicker UPI options such as ValidPay.
Exam angle
- Launch date: 1 October 2024; managers: BSE and MFU.