Panel on investor protection mulls retaining commission system...

The Committee on Investor Awareness and Protection may dilute its proposal to make all financial product sales fee-based rather than commission-based. Reacting to representations from insurance sector at a meeting on Wednesday, PFRDA chairman Dhirendra Swarup, who heads the committee, said they would consider the commission-based system and the fee-based system to co-exist for a transition period. The Committee has an open mind. It will deliberate on the suggestions made today and come to a conclusion in due course, said Swarup. The transition phase can be anywhere between six months to two years. The Committee on Wednesday met with stakeholders ...

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