The Securities and Exchange Board of India (SEBI) published an update promoting the Centralized Fee Collection Mechanism for Investment Advisers and Research Analysts (CeFCoM) as an optional, secure and transparent route for investors to pay fees to SEBI-registered investment advisers (IAs) and research analysts (RAs). SEBI positioned CeFCoM as a closed payment ecosystem designed to help ensure fees are paid only to registered IAs and RAs and to differentiate them from unregistered entities. CeFCoM has been operationalised since 1 October 2024 and is managed by BSE Ltd in association with MF Utilities India Pvt. Ltd. The mechanism supports multiple payment modes including net banking, debit card, UPI and UPI Autopay, IMPS, NEFT, RTGS, eNACH, cheque and credit cards; as of 10 June 2025, investors had paid more than INR 50 million in fees through CeFCoM.
Securities & Exchange Board of India 2025-06-12
Securities and Exchange Board of India encourages investors to use CeFCoM to pay fees to registered investment advisers and research analysts
The Securities and Exchange Board of India (SEBI) is promoting the Centralized Fee Collection Mechanism (CeFCoM) as an optional, secure, and transparent payment route for fees to SEBI-registered investment advisers and research analysts. Operational since October 2024 and managed by BSE Ltd with MF Utilities India Pvt. Ltd., CeFCoM supports various payment modes and has processed over INR 50 million in fees by June 2025.