Advisors need to apply for CPE program 12 months prior to the expiry of the ARN.
Hello,
My ARN expired on 29/01/2013 and I gave exam in April and submitted the application for renewal in April but the new ARN card after renewal is dated 29/04/2013. Why it is not from 29/01/2013 as I am loosing on the trail as well as the upfront for the same period. Please guide me what should be done. I have paid excess amount for the renewal of ARN what should I do for the refund?
Sameer
Hi Sameer,
NISM insists that one needs to apply for CPE program 12 months prior to the expiry of the ARN. You should have applied for renewal of ARN at least six to seven months before the expiry of ARN in order to avoid suspension of commission. AMFI circular dated October 14, 2011 states that any business done after the expiry of ARN and before renewal of ARN will be treated as invalid business and no upfront / trail is payable on such business. If ARN is renewed within six months from the date of expiry of ARN, then the suspended upfront / trail commission will be released.
You mentioned that you have paid excess amount to renew your ARN. Please provide us further details about the same so that we can assist you.
