NISM may ask AMFI to give relaxation to mutual fund distributors to renew ARN for one more quarter, said a source requesting anonymity.
With this, you may see validity of ARN extended by three more months or till January 1, 2022. You can renew your ARN/EUIN from your home or office by appearing for eCPE.
Remember that the new AMFI ARN renewal norms of AMFI will be implemented after expiry of NISM extension. While the the new AMFI norms has come into effect from August 1, 2020, it has not been implemented in practical terms due to extension given by AMFI.
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 ARN and cancellation of your ARN if you do not renew it within 6 months.
