Mumbai, June 16 -- The capital market regulator's centralized fee collection mechanism, aimed at ensuring that investors pay only registered investment advisers and research analysts, is seeing slow adoption since its launch nearly nine months ago due to its optional status and limited awareness, according to industry participants.

Since it was introduced by the Securities and Exchange Board of India (Sebi), the platform has seen collections worth Rs.5 crore, according to a statement released by the regulator on 12 June.Managed by BSE Ltd. and MF Utilities India Pvt. Ltd. (MFU), the mechanism went live on 1 October 2024, offering a closed and auditable ecosystem to help investors avoid unregistered operators.

India has approximately 1,3...