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  • MF News You cannot use the word ‘mutual fund’ in sender’s name on email communication

    You cannot use the word ‘mutual fund’ in sender’s name on email communication

    AMFI has asked mutual fund distributors not to use the word ‘mutual fund’ on email labels.
    Nishant Patnaik Sep 12, 2018

    Think twice before using suffix and prefix ‘mutual fund’ on your email sender name.

    In a communication with distributors, AMFI has cautioned distributors against using the word ‘mutual fund’ in suffix and prefix of email labels. Simply put, if you are sending an email commuincation from your email id viren@makeyouwealthy.com, you cannot use ‘Viren Mutual Fund’ as the sender’s name on your email communication.

    SEBI and AMFI have noticed instances where distributors have communicated with clients through their email IDs by using the word ‘mutual fund’ on sender’s name. AMFI said, “Recently certain instances were brought to the notice of AMFI and SEBI, wherein the mutual fund distributors had adopted email labels suffixed with the words "Mutual Fund" [for example, "ABC Mutual Fund" or  XYZ Mutual Fund" {where ABC & XYZ are  the names of the ARN holders} while sending promotional "no-reply" emailers regarding mutual fund investment.”

    AMFI has asked distributors not to use such names in their email labels to mislead investors. “While the concerned distributors were advised by AMFI to stop using such names immediately as such email labels could be mistaken to have been sent by a genuine mutual fund by uninformed persons,  AMFI's ARN Committee and the Board of Directors of AMFI have expressed concern in this regard, and have advised that mutual fund distributors should refrain from using the term "Mutual Fund" in their or email label or in their proprietary names in any manner,” added AMFI.

    A few months back in April, AMFI had cautioned distributors against tweaking the ‘Mutual Fund Sahi Hai’ (MFSH) campaign line to promote their own business. AMFI has found instances where some distributors and IFA associations have violated SEBI guidelines by using the ‘Mutual Fund Sahi Hai’ logo inappropriately.

     

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    13 Comments
    ?????? ???? · 5 years ago `
    ??? ???? ???????? ?? ?? ??? ?? ??????? ???? ????? ???? ????? ?? ?????????? ??? ?? ?? ???? ??? ???? ??? ?? ??????? ???? ???? ?? ?????? ???? ????????? ??? ?? ??? ?? ????,??????????,???? ????? ????????
    ?????? ???? · 5 years ago `
    ??? ???? ???????? ?? ?? ??? ?? ??????? ???? ????? ???? ????? ?? ?????????? ??? ?? ?? ???? ??? ???? ??? ?? ??????? ???? ???? ?? ?????? ???? ????????? ??? ?? ??? ?? ????,??????????,???? ????? ????????
    Arvind Dubey · 5 years ago `
    Needs special concern to regulate other sectors like insurance,real state ,and network marketing. But Govt and regulators both are mum over these issues.
    Pranab · 5 years ago `
    What is this.... Regulatory ko...Ajk kal Direct investment ka advisement Dekta nehi... " upar ka income chillaa ta hai... 20/25 lac.. " upar ka income 20/25 lac kaisey boldeta hai..ta hai... R zero fee's, zero commision - chilaa ta hai... Ei logo koi income nehe hai...kuch v nehii leta hai..???
    C.S.Kabra · 5 years ago `
    It's surprising that AMFI is insisting on not using the tag line "Mutual Fund sahi hai! by distributors .yes it is wrong to include MF in email ID communications to clients but to highlight MF as a right product for allocation is in no way any violation of wrong marketing or misselling.
    Prashant · 5 years ago `
    It seems that we are illegally distributing the mutual funds. In fact they charge us money to certify us to distribute and they say we can not use the word mutual funds. This clearly means that we are illegal. So then how can PAYTM and etmoney use mutual funds in their advertisements which is much more prominent than emails? They are misleading investors by saying upar ki kamai but are not telling them that they are going to get niche ki kamai i.e. under the table commissions. Direct schemes increasing TER makes it clear that they are accommodated under the table which defines direct plans completely.
    Sanjay Sonawane · 5 years ago `
    Meri to AMFI KO request hai ke app abhi na distributors ko hata do aur sirf direct mutual fund hi rakho, wahi baki rah gaya hai abhi sab log distributors ke piche pade hai.
    Aur ye uper ki kamai bolne wale free mai sab service denge.
    Vishal Rastogi · 5 years ago `
    Correctly done by regulator..plz. extend ur field of compliance with the Bankers too...!
    Sawai Singh · 5 years ago `
    My 10 years active profession is telling always "mutual fund sahi hai" ,my 90% business is because of "SIP hi sahi hai" . Around 2000 person heard me and 367 became active investors.My advice to AMFI is that these both trade marks are of industry (Mutual Fund industry) but actually all intermediaries collectively developed such slogan not by AMFI.I can not sell/ vouch with "Mutual Fund sahi nahi hai" and where is problem with using this slogan as I am full filling all regulatory requirements for ethical distribution/ advice" mutual fund sahi hai".I am not part-time mutual fund advisor.But such new notifications/ restrictions gives me an impression that as per AMFI I am not qualified to advise/ distribute mutual fund.As an IFA do I not supposed to use Mutual Funds service centre even as per your guidelines.Please rethink on it.No logical purpose in your this guide lines.
    Sawai Singh
    Minesh Mehta · 5 years ago `
    It seems that we are illegally distributing the mutual fund than why AMFI is charging huge amount for ARN renewals? This clearly means that we are illegal. So then how can PAYTM & ET Money and all other media’s can use mutual funds in their advertisements which is much more prominent than emails?
    If they are saying ”upar ki Kamai” How Paytm and ET WEALTH are promoting Mutual Fund without their cake? Are they NGO?

    If there is no/Low cost in direct than option then why SEBI AND AMFI has approved hike in direct option TER?

    Infact they getting failed in their all the strategies against IFA’s so now they are on Do or die mode.
    Sonia · 4 years ago
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    Fauzan Ansari · 5 years ago `
    Good decision
    Amit · 5 years ago `
    Can somebody please regulate youtube also? Every aira gaira nathu khaira is giving free advice on mutual funds on youtube with no accountability if his advice goes wrong. Their only objective is to generate more views in order to earn money from youtube.
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