Industry body AMFI has released advertisements inviting applications for the post of a CEO for self- regulatory organization (SRO) which AMFI is proposing to form to regulate distributors.
“We had earlier applied for SRO registration with SEBI and will once again do so. The process of operationalizing MF Utility will begin once we appoint a CEO,” said V Ramesh, Deputy CEO, AMFI.
AMFI has said that the CEO of the proposed SRO should have knowledge about the mutual fund industry, distribution, regulatory aspects related to mutual fund business, compliance, distribution models existing in various geographies.
AMFI has also invited applications for a CEO to run MF Utility portal. The advertisement states that the candidate should have knowledge about the mutual fund industry and its distribution activities, transaction processing, mutual fund products and practices adopted in the industry and regulations relating to mutual fund transactions.
Distributors are eagerly waiting to see the launch of MF Utility. The MF Utility is likely to bring immense operational ease to distributors and investors. AMCs are expected to contribute Rs 5 lakh each for this project initially and the operational cost is likely to be funded as per the number of transactions which an AMC gets.
Both the candidates should be post graduate/PGDBM with minimum 15 years of experience in financial services sector with proven track record.
