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‘You will have to carry ‘AMFI registered mutual fund distributor’ tagline along with your name’

Ask us: MFDs are required to carry this tagline along with their name/company name across all forms of communication.

by Nishant Patnaik Mar 3, 2021

‘Any ARN holder can appoint other ARN holders as sub distributors’

Ask us: There is no norm, which stops MFDs be it an individual, HUF or corporate from appointing another ARN holder as sub broker.

by Nishant Patnaik Feb 20, 2021

‘Partnership firms can incorporate name change to existing ARN if one partner exits or dies’

Ask us: MFDs can simply request AMFI to incorporate a name change to the existing ARN.

by Nishant Patnaik Feb 18, 2021

‘Ensure that your client facing employees have EUIN’

You can map EUINs of all your employees with your ARN. This will help you keep a track on businesses procured by them.

by Nishant Patnaik Jan 21, 2021

‘You can distribute PMS and AIF with your existing ARN’

Ask us: MFDs are allowed to distribute other financial products like PMS and AIF without obtaining a separate distribution license.

by Nishant Patnaik Dec 16, 2020

Submit ROC certificate with updated PAN to AMFI by Dec 31

There is no need to inform AMCs separately as CAMS reports to AMCs about change in nomenclature on behalf of AMFI.

by Nishant Patnaik Dec 10, 2020

‘MFDs can work with multiple national distributors’

There is no restriction on tying up with multiple national distributors.

by Nishant Patnaik Dec 9, 2020

Sub brokers need to make changes to their name to comply with SEBI norms

All ARN holders have to follow the AMFI code of conduct in letter and spirit irrespective of their business model.

by Nishant Patnaik Nov 4, 2020

‘Sole proprietorship firms can directly make name change request to AMFI’

Ask us: Ensure that you have opened a new bank account in your new company’s name before applying for name change in ARN.

by Nishant Patnaik Oct 26, 2020

‘Sub brokers can transfer their assets to own ARN’

Ask us: You will be required to obtain an NOC from the national distributor and clients and inform respective AMCs about this transfer.

by Nishant Patnaik Sep 21, 2020

‘On AUM transfer, trail commission of new distributor and previous ARN holder will be same’

Ask us: Since AMFI norms say that assets can only be transferred to valid ARN, you will have to first ensure that the new ARN is KYD complaint.

by Nishant Patnaik Sep 18, 2020

‘Rs.40 lakh GST exemption is not applicable for MF distributors’

Currently, mutual fund distributors earning less than Rs.20 lakh and not having GST registration are exempted from paying GST.

by Nishant Patnaik Sep 15, 2020

Expired ARNs can be renewed even today

While the new AMFI norms lead to permanent suspension of ARN if it is not renewed within six months of the date of expiry, you can continue to renew your ARN even now as the new guidelines have come into effect from August 1, 2020.

by Nishant Patnaik Aug 24, 2020