In a major relief to the mutual fund distributors, NISM has given relaxation to mutual fund distributors to renew ARN.
With this, ARNs/EUINs which are due for renewal or expiring between March 15 and December 30 can be renewed till December 31. Also, these ARNs/EUINs will continue to remain valid till December 31, 2020. That means, if your ARN/EUIN expires on August 15, it will remain valid till December 30, 2020. AMFI may consider December 31, 2020 as your ARN expiry date.
In a note, NISM said, “This is to bring to the notice of all NISM certificate holders and stake holders that validity of certificates of certificate holders, who could not appear or attend or enroll for certification examinations or CPE programs and as such, could not renew / are not in a position to renew their certificates, during March 15, 2020 to December 30, 2020 (or any time period based on future developments / the government directions), validity of their certificates shall be extended till December 31, 2020.”
AMFI will soon make a formal announcement to extend this facility to MF distributors.
Another key implication of this extension is that a few changes to the ARN transfer and renewal norms which came into force from August 1, 2020 will, in practical terms, be effective from January 1, 2021. Among the key changes to the ARN renewals norms will be shifting assets of your clients to other distributors or direct plans if you do not renew ARN within 3 months of expiry of his ARN and cancelling of your ARN if you do not renew it within 6 months.
You can renew your ARN by appearing for CPE exam through both online and offline modes. Both eCPE and regular CPE come with their own limitations. While eCPE does not offer interactive session i.e. you cannot engage with trainer or ask questions like regular CPEs, it offers you a convenient way to renew your ARN completely online. The fees for both the modes is Rs.2500.
Once you appear for this refresher course, NISM will share a certificate stating that you have successfully completed the mandatory training with AMFI. The process of ARN/EUIN renewal is completely paperless and based on Aadhaar. Ensure that your Aadhaar is linked with your mobile number to avail this online facility.
You can call NISM helpdesk at 8080806476 or write to NISM at certification@nism.ac.in or cpe@nism.ac.in for more details and enquiry.
