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MFDs can become EOPs by segregating distribution of regular and direct plans

Ask us: MFDs will have to float a body corporate and invest in technology platform.

by Nishant Patnaik Jun 14, 2023

Ask us: No relaxation on trail-forfeiture if you delay ARN renewal

AMFI is not considering extending any relaxation period on forfeiture of trail commission due to delay in ARN renewals, said two AMFI ARN committee members.

by Nishant Patnaik Mar 20, 2023

Distributors get trail commission if an investor changes MFD through STP route

Ask us: MFDs are entitled to receive trail commission if an investor changes ARN through STP route. However, MFD will have to justify that they have acted in the best interests of clients.

by Nishant Patnaik Mar 2, 2023

‘MFDs cannot split their assets to get exemption from GST’

Ask us: MFDs cannot execute partial transfer of their assets.

by Nishant Patnaik Jan 27, 2023

‘MFDs can obtain GST and cancel multiple times’

Ask us: You can cancel GST in the subsequent year if your income doesn’t hit the threshold limit of Rs.20 lakh.

by Nishant Patnaik Jan 18, 2023

‘MFDs relocating to other countries must surrender ARN’

Ask us: Only Indian MFDs can service Indian investors.

by Nishant Patnaik Jan 11, 2023

‘An NRI can become a mutual fund distributor’

Ask us: NRI MFDs cannot onboard resident individuals as their clients. They will have to source business from NRIs and foreigners only.

by Nishant Patnaik Jan 7, 2023

Pan updating: Quoting PAN or PEKRN is compulsory to redeem money

Ask us: If the value of the investment amount is less than Rs.50,000, your client may obtain Pan Exempted KYC Registration Number (PEKRN) to process request.

by Nishant Patnaik Dec 3, 2022

Can an Indian grandparent invest on behalf grandchild staying abroad?

Indian grandparent can invest on behalf of their grandchild through children gift funds.

by Karishma Gagwani Nov 3, 2022

‘AMFI does not allow nominees of deceased MFD to transfer AUM after six months’

Ask us: In any case, nominees or legal heirs are entitled to get trail commission on assets built before the demise of an ARN holder without obtaining a fresh ARN.

by Nishant Patnaik Oct 28, 2022

‘MFDs may obtain GST no. from Maharashtra to avail composition scheme’

However, experts believe that MFDs first need to figure out the net impact on taxation before making any decision.

by Nishant Patnaik Oct 20, 2022

‘Can B30 incentives be clawed back?’

Ask us: AMCs clawback B30 incentives if your B30 investor redeems his investment within the first 12 months of the date of investment.

by Nishant Patnaik Oct 20, 2022

‘B30 incentive is applicable to all MFDs irrespective of their business structure’

Ask us: Remember, B30 incentive is payable only if investment has come from retail investors.

by Nishant Patnaik Oct 6, 2022

‘Even in taglines, MFDs cannot use words like wealth creator’

Ask us: You should not create an impression that you perform a role of financial advisor for which you are not registered.

by Nishant Patnaik Sep 20, 2022

Sole proprietor MFDs will have to obtain NISM certificate to continue distribution business: AMFI

Ask us: MFDs who run sole proprietorships will have to obtain NISM certificate before the date of expiry of their ARN.

by Nishant Patnaik Sep 6, 2022

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