In a major relief to the mutual fund distributors, SEBI has asked AMFI to give relaxation to mutual fund distributors to renew ARN. With this, ARNs which are due for renewal or expiring between March 15 and June 29 continue to remain valid till June 30, 2020.
In a note, AMFI said, “SEBI has inter-alia announced that NISM certifications which are expiring during the period, March 15, 2020 to June 29, 2020 have been extended till June 30, 2020.Accordingly, the validity of the ARNs & EUINs which are expiring during the period March 15, 2020 to June 29, 2020, will also stand automatically extended till June 30, 2020, since the validity of ARNs & EUINs are co-terminus with the validity of NISM certification.”
Earlier, Radhika Gupta, CEO, Edelweiss MF and Head of ARN Committee, AMFI told Cafemutual that AMFI will give relaxation to distributors to renew ARN. She said, “There is no need to panic. The AMFI ARN committee has decided to give extension of up to 3 months to distributors to renew their ARN.”
If you have enrolled for certification examination and CPE program during March 14 and April 14, NISM will offer rescheduling facility once the examinations and CPE commence.
