SEBI introduces framework for Direct Mutual Fund Investment Platforms

Current Context: SEBI has introduced a regulatory framework for Execution Only Platforms (EOPs) for facilitating transactions in direct plans of schemes of mutual funds.The core idea is to protect the interest of investors dealing in units of direct plans of mutual fund schemes.

• The EOPs allow transactions in direct plans of mutual funds without the help of distributors.
• SEBI has issued various guidelines and eligibility criteria for EOPs, such as registration, disclosure, grievance redressal, etc.
• The framework was introduced on December 20, 2022 and will be effective from April 1, 2023.

Question:

Q.1 What is the name of the market regulator that introduced the regulatory framework for EOPs?
a. RBI
b. SEBI
c. IRDA
d. PFRDA