Registration of Employees under Individual / Senior Citizen ARN holders
on of Employees under Individual / Senior Citizen ARN holders
As you are aware, in terms of SEBI circular no CIR/IMD/DF/21/2012 dated September 13, 2012, AMFI shall create a unique identity number of the employee/ relationship manager/ sales person of the distributor interacting with the investor for the sale of mutual fund products, in addition to the AMFI Registration Number (ARN) of the distributor. The said unique identity number of such sales personnel is to be disclosed in Mutual Fund Scheme application form along with the ARN of the distributor.
We understand that some of the Individual ARN holders/ ARN holders registered under Senior Citizen category have employees/ relationship managers/ sales persons working under them for selling and marketing Mutual Fund products under their ARN. In terms of the above mentioned SEBI circular, the individual ARN holders as well as ARN holders registered under senior citizen category are required to register these employees under their ARN and obtain the Employee Unique Identification Number (EUIN) for them. The said EUIN of such sales personnel is also required to be disclosed on Mutual Fund Scheme application form along with the ARN of the distributor.
CAMS, on behalf of AMFI, has sent letter to about 47,000 KYD compliant Individual ARN holders/ ARN holders registered under senior citizen category, advising them to submit the application for registration of all such employees/ relationship manager/ sales person along with the required documents and fees to any CAMS Point of Service (POS) and obtain EUIN for them latest by January 15, 2013, if they have employed any person for selling/ marketing mutual fund products. A sample letter sent to ARN holders is attached to this e-mail for your information.
You are requested to take note of the above and also ensure that all employees/ relationship manager/ sales person, employed by you, if any, are registered under your ARN.
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January 4, 2013
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