AMFI has strengthened ARN renewal norms for mutual fund distributors
Jul 20 2020
News Category: Regulatory Updates
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According to media reports, AMFI has strengthened ARN renewal norms for mutual fund distributors. Accordingly, in case the ARN of a distributor has expired and he/she does not renew the ARN within 3 months, the mutual fund house may write to clients of the default distributor to choose another distributor for servicing and change the ARN code in the clients’  folios or  simply switch  to  direct  plan. Additionally, if the distributor does not renew the ARN within 6 months after expiry of the validity, the said ARN may be deemed to be cancelled and no fresh business should be accepted or registered under such ARN.

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