A mutual fund is a pool of money from numerous investors who wish to save or make money just like you. Investing in a mutual fund can be a lot easier than buying and selling individual stocks and bonds on your own.
Obtain a valid certification from the National Institute of Securities Market(NISM) by passing their certification examination ‘NISM Series V-A : Mutual Fund Distributors Certification Examination.
AMFI (Association of Mutual Funds in India) the apex body of all the registered asset management companies was incorporated on August 22, 1995 as a nonprofit organization. All the asset management companies that have launched mutual fund schemes are its members
All AMFI/ NISM Certified Intermediaries engaged in marketing and selling of Mutual Fund schemes are required to be registered with AMFI after passing AMFI/ NISM Certification Test. The Mutual Funds will not be able to deal with intermediaries who are not registered with AMFI and obtained ARN.
Procedure for obtaining registration
AMFI has authorized M/s Computer Age Management Services Pvt. Ltd. (CAMS) to act as processing agent on its behalf for the purpose of ARN.
For registering with AMFI, Intermediaries are required to apply in the prescribed form. The form can be obtained from the office of AMFI or any office of CAMS. Alternatively the form can also be downloaded from AMFI’s website amfiindia.com.
Application forms must be submitted along with KYD acknowledgement or along with KYD application form in person, in case KYD process is not completed, to the office of CAMS (CAMS-POS)
Fess and documents required to be submitted in respect of various categories of intermediaries
Obtain a valid certification from the National Institute of Securities Market(NISM) by passing their certification examination ‘NISM Series V-A : Mutual Fund Distributors Certification Examination.
AMFI (Association of Mutual Funds in India) the apex body of all the registered asset management companies was incorporated on August 22, 1995 as a nonprofit organization. All the asset management companies that have launched mutual fund schemes are its members
All AMFI/ NISM Certified Intermediaries engaged in marketing and selling of Mutual Fund schemes are required to be registered with AMFI after passing AMFI/ NISM Certification Test. The Mutual Funds will not be able to deal with intermediaries who are not registered with AMFI and obtained ARN.
Procedure for obtaining registration
AMFI has authorized M/s Computer Age Management Services Pvt. Ltd. (CAMS) to act as processing agent on its behalf for the purpose of ARN.
For registering with AMFI, Intermediaries are required to apply in the prescribed form. The form can be obtained from the office of AMFI or any office of CAMS. Alternatively the form can also be downloaded from AMFI’s website amfiindia.com.
Application forms must be submitted along with KYD acknowledgement or along with KYD application form in person, in case KYD process is not completed, to the office of CAMS (CAMS-POS)
Fess and documents required to be submitted in respect of various categories of intermediaries
| Entity | Documents | Additional Requirement | ARN Fees |
| Banks (Other than those specified below) | Copy of license issued by RBI, Copy of Board Resolution & List of Authorized signatories with Specimen signature | AMFI/ NISM Certified & AMFI Registered Corporate Employee. | 4,00,000 |
| Regional Rural Banks, District Central Co-Op. Banks | Copy of license issued by RBI, Copy of Board Resolution & List of Authorized signatories with Specimen signature | AMFI/ NISM Certified & AMFI Registered Corporate Employee. | 1,00,000 |
| Non Banking Finance Company (NBFC) | Copy of Certificate of Registration issued by RBI, Copy of AOA/ MOA, Copy of Board Resolution, List of Authorized Signatories with Specimen signature | AMFI/ NISM Certified & AMFI Registered Corporate Employee. | 1,00,000 |
| Public Ltd. Co. | MOA and AOA, Copy of Board Resolution & List of Authorized signatories with Specimen signature | AMFI/ NISM Certified & AMFI Registered Corporate Employee. | 4,00,000 |
| Pvt. Ltd. Co. | MOA and AOA, Copy of Board Resolution & List of Authorized signatories with Specimen signature | AMFI/ NISM Certified & AMFI Registered Corporate Employee. | 40,000 |
| Limited Liability Partnership (LLP) |
Declaration in specified format
Certificate of Incorporation of LLP (in form 16)
Copy of LLP Agreement
Name, address and PAN details of the Designated Partners.
Name, address and PAN details of other partners (other than the Designated Partners)
Other persons authorized to act on behalf of the LLP.
|
AMFI/ NISM Certified & AMFI Registered Corporate Employee | 40,000 |
| Partnership Firm | Declaration in specified format, Partnership Deed & List of Authorized signatories with Specimen signature | AMFI/ NISM Certified & AMFI Registered Corporate Employee. | 20,000 |
| Post Offices | List of Authorized signatories with Specimen signature | AMFI/ NISM Certified & AMFI Registered Corporate Employee. | 15,000 |
| Micro Finance Institution | The relevant documents as may be applicable as stated above, depending on the category under which the Micro Finance Institution is incorporated viz. Society, Trust, Company, NBFC, etc. and the document evidencing that the entity is a Micro Finance Institution | AMFI/ NISM Certified & AMFI Registered Corporate Employee. | 15,000 |
| Proprietorship Firms | Self Declaration for Proprietorship firm in prescribed format | AMFI/ NISM Certified & AMFI Registered Proprietor/ Employee | 3,000 |
| Individuals |
Copy of AMFI/ NISM passing Certificate/ NISM Mark Sheet
Self attested copy of mark-sheet containing candidate’s photo and PAN is accepted up to two months from date of exam. Thereafter one has to submit a self attested copy of passing certificate along with the application.
|
Two stamp size photographs | 3,000 |
|
Senior Citizens Criteria to apply for allotment of ARN under this category :
A person who has attained age of 50 years as on May 31, 2010 OR
A person who has at least 10 years experience in the securities market as on May 31, 2010 AND/OR
A person who has at least 10 years experience in distribution of Mutual Fund Products as on May 31, 2010
Any individual satisfying any of the above mentioned criteria is eligible to register himself as ARN holder under senior citizen category.
|
Copy of CPE certificate | Two stamp size photographs | 3,000 |
| New Cadre of Distributors as defined in SEBI Circular dated September 13, 2012 and as notified by AMFI |
Postal agents, Retired Govt employees, Retired teachers, retired bank officer, Intermediaries / Agents engaged in distribution of financial products registered with any other Financial Services Regulator, Persons of 50 years of age or more, Any other person (including students), who has obtained NISM certification by passing exam “NISM
Series V-B : Mutual Fund Foundation Certification Examination”
|
Self attested copy of certificate issued by NISM in respect of “NISM Series V-B :Mutual Fund Foundation Certification Examination, If the applicant is from the category “Any other person (including students)”, he/ she is required to submit Self Attested copy of Mark Sheet /passing certificate in respect of “NISM
Series V-B : Mutual Fund Foundation Certification Examination
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