The Market Regulator, SEBI has issued informal guidance upon request of Paytm Money Limited under SEBI (Informal Guidance) wherein it has clarified that the registered Investment advisor (IA) can offer execution services for their advisory clients but only without charging any commission or fees.
from taxmann.com News https://www.taxmann.com/research/direct-tax-laws/top-story/222330000000021347/investment-advisers-can’t-charge-implementation-fee-or-referral-fee-for-advisory-clients-sebi.aspx
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