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SEBI reduces fees for market intermediaries from tomorrow
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Mumbai, June 30 (PTI) Market regulator SEBI has notified that the reduced fees structure for market intermediaries such as brokers, FIIs and others would come into effect tomorrow.
"They shall come into force on July 1, 2009,"Securities and Exchange Board of India Chairman C B Bhave said in a notification. To boost the confidence of brokers, FIIs, mutual funds and foreign venture capital funds in the Indian capital market, SEBI announced the reduction of fee by half on June 18. SEBI has reduced the brokerage charges of all sale and purchase transactions in securities, other than debt securities, by 50 per cent from Rs 20 to Rs 10 for a turnover of Rs one crore. Similarly, brokers'fee for all sale and purchase transactions in debt securities have been reduced to Rs 2.5 from Rs 5 for per Rs one crore turnover. SEBI has also cut the three-year registration fee of foreign institutional investors (FIIs) to USD 5,000 from the existing USD 10,000. Similarly, filing fee for offer document of mutual fund have been reduced to 0.0020 per cent from 0.005 per cent of the amount raised in the new fund offer, subjected to a minimum of Rs one lakh and a maximum of Rs 50 lakh. Besides, SEBI reduced the foreign venture capital application and registration charges by half to USD 2,500 and USD 10,000 respectively.
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