MF News Covid-19 impact: Massive reduction in new ARN registrations and renewals

Covid-19 impact: Massive reduction in new ARN registrations and renewals

Only 7 individuals joined the MF distribution industry.

Team Cafemutual May 30, 2020

The latest AMFI data shows that only 7 individuals joined the MF distribution business last month.

In fact, the industry added just 14 ARNs across all distribution channels.

This is largely due to the temporarily suspension of NISM certification exams and continuous professional examinations (CPEs) since March 2020 due to nationwide lockdown. In addition, most offices of CAMS remained close during the greater part of April 2020. As a result, CAMS was not in a position to accept application for fresh ARN/EUIN in April 2020.

Further, the MF industry has witnessed renewals of 348 ARNs – 308 individual distributors, 36 corporates, 33 corporate employees and 1 individual MFD employee. Earlier, AMFI extended the validity of ARN and EUINs expiring between March 15 and June 29 till June 30.

Currently, the MF industry has 2.26 lakh foot soldiers with 88271 individual MFDs.

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18 Comments

Ajay Ashok Dhavane · 4 years ago `

What's the process to renew ARN online?

N sIVAHARSHA · 4 years ago

How to renew ARN ONLINE

PRAKSH CHAUHAN · 4 years ago `

What is the process to renew ARN on line

Raghavendra Purohit · 4 years ago `

Lack of fresh ARNs or non- renewal of ARN is not due to Covid-19. It is the regressive policies of SEBI that has made MF distribution an unviable profession. If SEBI and AMCs think that they can survive on direct MF investors, they are living in a fool's paradise.

Solomon · 4 years ago

I agree...SEBI has been over zealous in monitoring distributor brokerages for more than a decade... Instead of monitoring rating agencies and fraudulent deals done by fund managers who have conflict of these interest in certain deals

Mithun Kumar · 4 years ago

SEBI is follish organistation if you want to do business in Mutual Fund you need to give exam and You want to invest directly in Mutual Fund you don't need to give exam. Hahahahaaa

Jitendra singh · 4 years ago

Through direct channel only urban and people with good understanding of financial products only can be benefited ,what about the rural areas where people go to city fill simple forms like employment, electricity bill ,.
Where people caught in chit fund scheme's,
Where people only think of DD, and. Lic Scheme's,
This is the time to spread it to rural areas not to make decision which make it only limited to some area or class of people

Bhuvan · 4 years ago `

Industry is thankful to SEBI and AMFI for extending ARN validity under these tough times. As the virus is taking more time, request must be made to SEBI to further extend the validity of ARNs.

Regards,
www.prepcafe.in

C R Gopinathan Nair · 4 years ago `

Passed Mutual fund distributors certification examination in February last. Unable to renew ARN due to AMFI system problem. AMFI system shows expiry as June 2017. AMCs system shows expiry 30th June 2020.Emailed AMFI and CAMS. No response. Informed local AMC offices also. No solution yet

Value Advisors · 4 years ago `

SEBI and AMFI should consider online KYD process...like MCA does for DIN process thru eMudra app...visiting CAMS office for providing biometric impression should be discontinued for hassle free ARN registration.

Vijaya lakshmi lihala · 4 years ago `

Dear sir,
AMFI website shows very easy process of ARN renewal. Regret neither registration or sign up process available. Further, when submitted with forget password, no code is sent in registered email id.

Moreover, NISM to consider renewal on payment of fees & keeping course to attend pending thus allowing ARN renewal to proceed. Or allowing senior citizen to renew without attending the course, as per AMFI guidelines.

We all are facing pandemic & pray almighty for well being of all living creatures in planet.

Believe, my msg to be fwd to concern authorities with a request to concern ofc for kind consideration for individuals opting to renew. This will of course help investors & advisors too in this grave situation.

Regards

Vijaya Lakshmi Lihala

Nilesh mehta · 4 years ago

I had talk with NISM call center.. They are starting ARN renual on line from mostly next week... We have to attain 8 hour session in maximum 2 days.. Finally to attain Q&A..

Rajeev dhagat · 4 years ago `

Sebi not work proper he not know how to Mf industrie grow. It's agencies cams and kfinemart not good working no any answer in my question. Not proper rejection kyc reason in brief not any mail to ARN. TO MUCH CONTROL sebi .why mail not drop to cams or Karvy. Foolish work of sbi.

Rajeev dhagat · 4 years ago `

I think sebi like corporate. I want to complain for sebi any mail address.

Bijoy Phukan · 4 years ago `

It is not surprising that there is a reduction in New ARN registration & Renewal of ARN
Covid-19 is a factor & the Lockdown has affected NISM conducting certification courses.The other factor in New ARN registration is because of viability of this MF Distribution business,so there is lack of interest in joining this profession.
The Registration fees & Renewal fees have gone up many fold but the earnings have come down.Even in this Covid-19 crisis there is some relief given to different sectors,but what about MF Distributiors?
At least some relief by reduction in fees etc may be considered by AMFI

Divyeshbhai J Makani · 4 years ago `

E-CPE Lauch pl check with auhorities

ranjan · 4 years ago `

Unfortunately, in any industry big players want to safe guard their competivitve position by blocking as many people or corporates from entering the business as possible. The way to do that is make industry unprofitable for new players. Any person in his right mind woulld not get into distribution now with zero upfront commission. The trail system is not only distroying distributors but also by keeping a trial model Sebi is looting the poor customers by paying the big players and banks 1.5% every year. No customer will mind paying 1.5% commission upfront rather than pay trail fee of 1.5% every year. The final nail will be direct funds which close the chapter on distributors and give online players the upper hand. Someone the systematic analihation of the system looks planned rather coincidental.

VINOD NAGRECHA · 4 years ago `

What is the ARN renewal procedure ? Is it available online ?

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