New Delhi, March 16 -- The Securities and Exchange Board of India (Sebi) has set up a working group to review overlaps in regulations governing mutual fund distributors (MFDs) and registered investment advisers (RIAs), as the regulator looks to streamline rules in the fast-growing advisory ecosystem.

"A working group has been set up to review the extant regulatory framework of MF distributors and harmonize overlap, if any, between MFDs and IAs," said Sebi chairman Tuhin Kanta Pandey at ARIA Aspire 2026 on Monday.

While mutual fund distributors are permitted to distribute fund products, they often make recommendations to clients, blurring the distinction between distribution and investment advice. The review aims to clarify regulatory bo...