Registration of New cadre of Distributors as defined in SEBI Circular dated September 13, 2012 and as notified by AMFI.
As you are aware in terms of SEBI Circular dated September 13, 2012, a new cadre of distributors, such as postal agents, retired government and semi-government officials (class III and above or equivalent), retired teachers and retired bank officers with a service of at least 10 years, and other similar persons (such as Bank correspondents) as may be notified by AMFI/ AMC from time to time, shall be allowed to sell units of simple and performing mutual fund schemes as defined in the said SEBI circular.
We had also advised vide our e-mail no. 35P/MEM-COR/36/2012-13 dated January 14, 2013 and 35P/MEM-COR/40/ 12-13 dated January 28, 2013 that it is decided to include the following additional persons in the new cadre of distributors :
AMFI ARN Committee has since finalized the registration process for registering the new cadre of distributors. The detailed note on the registration process containing information on the eligibility criteria for applying under new cadre, document requirement, Declaration of self certification, etc. is attached. Also, the application form for new cadre of Distributors is attached.
For applications received under Individual category : Rs. 1500/- for ARN Registration Rs. 750/- for ARN Renewal
For applications received for Proprietary Concern : Rs. 1500/- for registration of Proprietary concern Rs. 1500/- for registration of the Sole Proprietor under Proprietary concern and allotment of EUIN to the Sole Proprietor Rs. 750/- for renewal of Proprietary concern Rs. 750/- for renewal of EUIN of the Sole Proprietor
It may please be noted that as communicated vide our e-mail no. 35P/MEM-COR/36/2012-13 dated January 14, 2013, the registration fee for new cadre of distributors registering for the first time during February 1, 2013 to June 30, 2013 is waived, subject to fulfilling the conditions mentioned therein and thereafter, fees mentioned as above are required to be paid.
Application Form : The application form for new cadre of distributors is attached. We are also uploading the same on AMFI Website.
Declaration of Self Certification : The separate format of Declaration of Self Certification designed for the new cadre of distributors is available in the attached Process note.
In terms of SEBI Circular dated September 13, 2012, new cadre of distributors are allowed to sell units of simple and performing mutual fund schemes, as defined therein. The AMCs are therefore requested to ensure that the new cadre of distributors empanelled with the AMCs, sell units of simple and performing mutual fund schemes of the AMC, in compliance with SEBI Circular.
“Central Distributor Services” has become operational with effect from January 15, 2013. The distributors are therefore required to submit Annual “Declaration of Self Certification” to CAMS, AMFI Unit in the following format.
To download the empanelment form for new cadre of distributors, click here
To view the list of simple and performing schemes for new cadre of distributors