What the AMFI Commission Table Does Not Contain

While building the due-diligence piece, I spent three weeks looking for a single public document showing that an AMC had reviewed a distributor whose numbers crossed the regulatory threshold. I found the threshold. I found the data that triggers it. I found the AMFI process that runs it. I did not find the outcome.

That gap is not evidence of failure. It is evidence of architecture. The disclosure system is designed to generate a public signal and an internal response. Only the signal is visible. The response runs entirely inside the system, between AMCs and trustees and SEBI, with nothing facing the investor whose money is at stake.