Since the regulator wants to micro manage the mutual fund industry, here are some suggestions:
- No amc shall have an office in Mumbai / Delhi as the rents are too high.
- The managing director’s salary shall not exceed .001% of the Aum with an upper limit of Rs. 90,00,000 per annum,
- There shall be no website which compares funds – that creates competition.
- All newspapers, magazines and websites should cover all fund schemes equally immaterial of their ad budgets.
- IFAs should have a say on the editorial policies of magazines, blogs and websites because editors understand IFA problems
- A suggestion is being sent to the Ministry of finance that IFAs should get OROP even if they have sold just one sip of Rs. 500
- The Orop will be based on the average income of the top 100 IFAs annual income.
- Since all the problems in the financial services industry are because of the Rs. 2 lakh p.a. agent, salaries should be revised.
- Since the mf industry and the life insurance industries have brilliant products which journalists understand very well, it is assumed that all products are understood by all their readers. So we will no longer talk about mis-selling. Never again.
- There will be no more pensions for the employees at the regulator, they will have to do a SIP and create their own pension
- As all the IFAs are deemed to be very rich, we will take the average income of the IFAs (leave out the top 200 of them) and this amount will be the salary of the people working at the fund houses, banks and life insurance companies.
- Since the media is dependent on the ads, we have decided that every fund house shall spent .001% of their assets on advertising.
- I hope my media friends are happy with the increase in the advertising budget. There shall be no upper cap of course.
- I hope they put my photo on their cover soon. Much before I die. Ek cover to bantha hai
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