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  • MF News Think twice before you say ‘Advisor Zaroori Hai’

    Think twice before you say ‘Advisor Zaroori Hai’

    AMFI has cautioned distributors against tweaking or modifying ‘Mutual Fund Sahi Hai’ campaign line to promote their own business.
    Nishant Patnaik Apr 23, 2018

    You cannot use tag lines such as ‘Advisor Zaroori Hai’ or ‘Advisor Sahi Hai’ along with the AMFI logo. 

    AMFI has cautioned distributors against tweaking the ‘Mutual Fund Sahi Hai’ (MFSH) campaign line to promote their own business.

    Earlier, AMFI had encouraged AMCs and MF distributors to carry the message of MFSH in their marketing collaterals and take advantage of the campaign’s media visibility. However, AMFI has found instances where some distributors and IFA associations violated SEBI guidelines as they used the MFSH logo inappropriately.

    In an email communication, AMFI said distributors could not use celebrities through movie posters or articles to promote mutual funds. “Recently, we have come across a few cases wherein the MF distributors have used celebrities, movie posters, movie characters in various formats in their promotional material along with "Mutual Funds Sahi Hai" logo or banner. It is reiterated that, as per extant SEBI regulatory guidelines, usage of celebrities in advertisements, marketing material by an AMC or MF distributors, in any form (picture/video/caricature/cartoon) is not permitted. MFDs are therefore advised to strictly refrain from using any celebrities, cinema characters etc. in any format of promotional material, advertisements relating to mutual funds, unless they have sought and received SEBI's specific written approval.”

    AMFI has also found violations in the use of the statutory warning, i.e. ‘Mutual funds are subject to market risks, read all scheme related documents carefully’. AMFI has found that some distributors changed the font size or audio length while a few distributors have modified this disclaimer, carrying their own version. “It has come to our knowledge that some of the MFDs have issued advertisements /sales promotional material, carrying their own version of the disclaimer, modifying the aforesaid standard warning prescribed by SEBI, in violation of the SEBI regulations. MFDs are advised to use the exact text of the standard warning/disclaimer as prescribed by SEBI without modifying the same in any manner whatsoever,” said AMFI.

    Another violation that AMFI has found is misuse of the ‘Mutual Fund Sahi Hai’ logo. “A few instances of misuse of the MFSH logo by some of the MFDs has come to our notice – such as breaking the logo, using the MFD's own brandname along with the ‘Sahi Hai’ tag line, adding a new tag line with the word ‘Sahi Hai’ etc,” clarified AMFI.

    What to do now

    AMFI has issued uniform guidelines for distributors for leveraging the MFSH campaign. Here is what AMFI has to say

    Use the MFSH logo available at https://www.amfiindia.com/downloads

    You can use the regional language logos and collaterals 

    You cannot modify the logo by using it along with your own logo

    You cannot make the MFSH logo as your social media page profile picture

     

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

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    4 Comments
    Sinha · 5 years ago `
    I wonder y no such micro inspection for insurance cos. Happily use celebrities n Mis sell plus earn 70% commsn . It's high time Ifa shud come on common platform and raise voice for such step motherly treatment to mf. Alreafy direct Nav has bleed most of Ifa buss
    Jayshree Chavan · 5 years ago `
    I agree with Sinha comment, Insurance Advisor are so stronger then Mutual fund advisor, becouse they have unity and MF advisors don't have unity.
    Aditya · 5 years ago `
    Sinhaji and Jayshree madam, request you to please join FIFA, association of mutual fund advisors. 9922000600
    Manish Joshi · 5 years ago `
    Whether SEBI or AMFI or IRDA all marketing & other issues like such as disclosing of commission & other restrictions are on us only. No such restriction on other businessman.
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