Скачать или смотреть AMFI Jan 2026 Circular on MFDs

The AMFI Master Circular for Mutual Fund Distributors (MFDs) provides a comprehensive regulatory framework for intermediaries selling mutual fund products in India. It mandates compulsory online registration and renewal of the AMFI Registration Number (ARN), while requiring the "Know Your Distributor" (KYD) process for identity verification. The document outlines strict naming conventions, prohibiting the use of terms like "Adviser" or "Manager" for those not registered as Investment Advisers with SEBI. It also details the commission structures, including rules for trail commission forfeiture upon ARN expiry and guidelines for paying nominees of deceased distributors. Specialized sections address the registration of overseas distributors and the specific requirements for selling Specialized Investment Fund (SIF) products. Furthermore, the manual provides standardized legal forms and annexures to ensure consistent compliance across the mutual fund industry.