Listen to this article
The Association of Portfolio Managers in India (APMI) has started ‘Distributor Registration Portal’ through which individuals can obtain APMI Registration Number (APRN) to sell PMS.
Both existing MFDs and individuals can obtain APRN after clearing the NISM examination.
According to SEBI norms, 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.
However, the registration is voluntary for existing PMS distributors and ARN holders till the time of expiry.
Individuals can register by paying fee of Rs.590 including GST to obtain APRN number.
Here is fee structure for various distributor categories:
|
Distributor category |
Fee excluding GST |
|
Banks, listed companies |
Rs.1 lakh |
|
Regional rural, district central cooperative banks |
Rs.25,000 |
|
NBFC |
Rs.25,000 |
|
Private limited, One person company, LLP |
Rs.5000 |
|
Partnership firm, Urban co-op banks, societies, trusts, HUFs |
Rs.5000 |
|
Post office and micro finance |
Rs.2000 |
|
Individuals, senior citizens |
Rs.500 |
|
Employees |
Rs.250 |