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The Association of Portfolio Managers in India (APMI) has introduced ‘Distributor Registration Portal’ through which individuals can obtain APMI Registration Number (APRN) to sell PMS.
Any individual can register himself/herself as PMS distributor through this portal after clearing NISM Series-XXI-A: Portfolio Management Services (PMS) Distributors Certification Examination.
With this, the individual need not obtain ARN number to sell PMS. APMI clarified that the registration is voluntary for existing PMS distributors.
The new portal was launched at the annual general board meeting held on August 19 in Mumbai. Manoj Kumar, Executive Director, Investment Management Department, SEBI and Neeraj Choksi, Chairman APMI jointly launched this new initiative.
Through this portal, APMI facilitates end-to-end support to PMS distributors i.e. from training, exam preparation to certification. The portal also facilitates common KYD for easier registration, grievance redressal and gives access to PMS companies.
The portal will also help PMS distributors with sales team with EUIN number.
The association has also launched another portal ‘Compliance Sutra’ to enhance compliance mechanism for PMS companies. The portal will help its members to execute and implement regulatory compliances.
Both the portal will go live from September 1, 2023.
