The Securities and Exchange Board of India (SEBI) has laid out new regulations which will require providers of execution-only platforms for direct plans of mutual funds to register before offering services. The regulations aim to maintain a balance between investor convenience and protection, and will come into force on 1 September. The structure will consist of two categories of registration: Category 1 for EOPs that act as agents of asset management companies registered with AMFI, and Category 2 for EOPs that act as investor brokers.