Mutual fund distributors earned Rs. 14,853 crores in mutual funds commission in FY23-24

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@nithin

Firstly, the entity “Sub-brokers” is getting phased out, exchanges don’t register sub-brokers anymore. The new term is called “Authorized Person (AP)”. Sub-broker used to be a separate registered entity with SEBI, whereas an AP is registered only with the exchange. What this means is that if an AP does any misdeed, unlike with sub-brokers SEBI can hold the main brokerage also responsible.

So if today, you want to go partner with a broker, you will be called an Authorized person, and not sub-broker.

Something i found on AP in the forum