As per the recommendations, the application fee for mutual funds can be hiked to 5 lakh from the existing 1 lakh, while registration fee can be maintained at the current level of 25 lakh.

Besides, the panel has recommended that regulatory fee for stock exchanges having turnover in excess of 10 lakh crore at "1 crore plus 0.00006 per cent on turnover in excess of 10 lakh crore". The overall regulatory fee would be capped at 20 crore.

For stock brokers, the proposal is to restore 2006 fee structure level -- charging a fee of 20 per one crore of turnover.

The committee has also suggested that filing fee for offer document, right issues and takeovers should be "restored at the level of 2007 with further streamlining across slab to make it more consistent".

According to Sebi, various investor-centric initiatives as well as the ever increasing regulatory mandate may warrant not only identification of new resources but also aligning some existing levies to the changed market structure.

In the past, the Securities and Exchange Board of India (Sebi) had hiked the fees for various market intermediaries in 2006, while a reduction was also announced in 2009.

The downward revision in 2009 was undertaken with a view that the fees levied by statutory authorities like Sebi should be adequate enough to meet revenue expenses fully and leave a little surplus for capital expenditure.

However, the committee felt that the enhanced scope and role of market regulatory in today's time, which requires much higher financial commitment in order to remain effective and efficient, was not visualised then.

Also, the anticipation of market volumes having a secular trend of growth has not materialised and decline in primary and secondary market volumes as led to reduced collection of fees by Sebi.

The review was undertaken by the internal CRFR committee as per recommendations of Sebi's audit committee.

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