It has been decided to include the following persons in the special cadre of distributors
- Intermediaries/ agents engaged in distribution of financial products e.g. insurance agent, FD agent, National Savings Scheme products, PPF, etc. registered with any other Financial Services Regulator, with at least 5 years of experience.
- Business correspondents appointed by Banks having at least 5 years of experience.
These new cadre of distributors would require a simplified form of NISM certification and AMFI Registration. NISM has launched NISM-series -V - B -: Mutual Fund foundation Certification Examination and CPE Programme for new cadre of Distributors in terms of SEBI circular No. CIR/ IMD/DF/21/2012 dated September 13, 2012. The new cadre of distributors are required to submit Self attested copy of certificate issued by NISM in respect of Series V-B : Mutual Fund Foundation Certification Examination or Mutual Fund Foundation CPE Program, specially designed by NISM for new cadre of distributors while applying for ARN under this cadre.
The empanelment shall be done as per the process prescribed the AMC from time to time.