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NISM Certifications · NISM-Series-V-A: Mutual Fund Distributors · Fund Distribution and Channel Management Practices

A mutual fund distributor wants to sell mutual fund products to clients. Which registration or certification is required for an individual distributor in India?

An individual mutual fund distributor must pass the NISM-Series-V-A certification and obtain an AMFI Registration Number (ARN). The ARN is quoted on transactions so that AMCs can identify the distributor and pay commission. PAN and a bank account alone do not authorise distribution.

  1. AOnly a PAN card and bank account
  2. BAMFI Registration Number (ARN) after passing the NISM-Series-V-A examinationCorrect
  3. CSEBI Portfolio Manager licence
  4. DMembership of a recognised stock exchange as a trading member

Explanation

Individuals distributing mutual fund units must hold a valid NISM-Series-V-A certification and obtain an AMFI Registration Number (ARN) from AMFI. A PAN and bank account alone are insufficient. Portfolio manager licence and exchange membership are not needed for distribution.

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