REGISTRATION OF INTERMEDIARIES

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..... REGISTRATION OF INTERMEDIARIES As you are aware, SEBI circular No. MFD/CIR No.10/310/01 dated September 25, 2001 stipulates inter alia that all distributors and agents of mutual funds units should pass the AMFI certification examination and follow the provisions of SEBI (Mutual funds) Regulations and Guidelines including code of conduct. Further, SEBI Circular No. MFD/CIR/ 06/21 .....

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..... idelines specified by SEBI and AMFI from time to time. Mutual funds shall monitor the compliance of these guidelines and code of conduct by their intermediaries in terms of business done across all mutual funds. In case of non-compliance, the empanelling mutual funds may suspend further business and pay-out of commissions, etc. until full compliance by them. Exemption for Senior Citizens .....

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..... onnection, your attention is drawn to clause 14 of the code of conduct issued vide SEBI Circular dated June 26, 2002, which prohibits sharing of commissions by the intermediaries with the investors and attracting clients through temptation of gifts etc. All mutual funds and intermediaries are advised to follow it strictly and should not indulge in any practice contravening it directly or indirectl .....

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