WHY ONLY & ALWAYS MF DISTRIBUTORS ? SEBI, the capital market regulator, as its habit, again came out with a regulation to disclose commission paid to distributors and asked all mutual fund companies to follow it. As usual, without asking a single question all AMCs (willingly or not) shall start implementing this. Sir, in this regard we mutual fund distributors would like to draw your attention to some facts of MF Industry : 1) Under the name 'transparency' SEBI is taking autocratic decisions. In fact the rule of disclosing commission is already there under "the code of conduct" then why a separate notification again. 2) We all distributors completely endorse and support SEBI's initiative to protect the interest of small investors in capital market; but not at the cost of distributors always. 3) How investors gets protected, by disclosing commissions? 4) In Indian culture, nobody likes to disclose his earnings publicly, as it us a matter of self respect. 5) SEBI has already capped the distributors commission, however, not satisfied hence wish to disclose. 6) A platform of DIRECT investment is already available, who do not wish to avail services of distributors hence are not paying any commission. 7) MF Distributors are self employed persons engaged in inculcating habit of saving and investment amongst common people. This move will discourage many existing and aspiring distributors that may lead to unemployment. 8) In India, where capital market penetration is below 5%, SEBI should motivate market participants to increase retail base and not introduce such humiliating regulations. 9) Disclosing commission may lead to the unethical practice of demanding pass back from Investors. 10) The MF industry is already finding it difficult to spread its reach because of 'over & unnecessary transperancy' and frequent changes in rules & regulations by the Regulator. This is the only business where 'Disclaimer' are more loud than its 'Features'. Sir, we all distributors humbly submit that, please instruct SEBI to withdraw its notification to disclose commission and protect our "SELF RESPECT". Thanks.