Distributors have a reason to cheer. From June 16, 2013, mutual fund distributors wanting to renew their ARN have to appear for just one day CPE program. Earlier, MF distributors had to appear for two day CPE to renew their NISM/AMFI certification.
“As per decision of Securities and Exchange Board of India, all Continuing Professional Education (CPE) Programs for obtaining certificate(s) / revalidating certificate(s) shall be for duration of one day,” states a communiqué put up on NISM website.
The fees for Continuing Professional Education (CPE) program of one day will be Rs 2000.All other features of the CPE Program will remain unchanged.
Alternatively, distributors can also appear for ‘NISM-Series-V-A: Mutual Fund Distributors Certification Examination’ to renew their ARN. The fee for this exam is Rs 1250.
The industry has welcomed the move. “It was inconvenient for outstation candidates to appear for two day program. The cost was also a reason,” said a senior official from a public sector fund house.
Once you clear the CPE, the certificate gets revalidated for three years. Earlier, distributors were paying Rs 3400 (1700 x 2) for two consecutive days of CPE and Rs 3600 (Rs 1800 x 2) if given with a gap.
