Entry Loads & Annual Expenses - Oligopoly at its worst

Just one look at the offer documents & reports of MF schemes (or even a quick check on Value Research) will lead you to believe that 2.25% entry load for equity schemes is a law.

What is the point in SEBI prescribing that entry load is AMC decision with a cap of 7% as the max entry load - when it does nothing to encourage competition in this regard?

Also, the expense ratio of all funds is planned as 2.5% (same as max allowed by SEBI). Not only this, the actual expense also invariably stay as close to max limit as possible for more than half of the equity schemes.

Over and above this, all NFO expenses (thankfully for closed-end funds) always are planned at 6% (again, the max allowed by SEBI). Is this competition or group monopoly???

Is it possible that AMFI is nothing but a cartel that allows all MFs to decide uniform loads & expenses in a closed door meeting before launching it to the rest of the world? Any thoughts...