India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), is considering a significant revamp of how mutual fund houses compensate brokers—a move that could reshape cost structures across the asset management industry. The proposal centers on standardizing brokerage payments, curbing excessive commissions, and ensuring fund expenses reflect genuine investor interests. With concerns about opacity in execution costs and varying brokerage arrangements, SEBI’s new framework aims to strengthen governance and align AMC practices with global best standards.