Mumbai, Oct. 9 -- Mumbai: The Securities and Exchange Board of India (Sebi) is weighing whether individual mutual fund distributors (MFDs) should also be allowed to hold a registered investment advisor (RIA) licence, as it reviews the regulatory framework governing distribution and investment advice, according to two people familiar with the matter.

"The working group is discussing whether individual MFDs should also be allowed to hold an investment adviser (IA) licence," said one of the two people on condition of anonymity.

It is one of several issues considered by the working group set up by the capital markets regulator earlier this year to streamline norms governing MFDs and RIAs. The group's recommendation would allow individual MF...