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NISM Certifications · NISM-Series-V-A: Mutual Fund Distributors · Legal and Regulatory Framework

As per the SEBI Mutual Fund Regulations, a person who wishes to act as a mutual fund distributor must at a minimum do which of the following?

A mutual fund distributor must pass the prescribed NISM certification (Series V-A) and obtain an AMFI Registration Number (ARN). Stock broker registration, an RBI licence or AMC employment is not required to distribute mutual fund units.

  1. AObtain an AMFI Registration Number (ARN) after passing the prescribed NISM certificationCorrect
  2. BRegister with SEBI as a stock broker
  3. CObtain a licence from the RBI
  4. DBe an employee of an AMC

Explanation

Distributors must hold a valid NISM-Series-V-A certificate and obtain an ARN from AMFI to sell mutual fund units. SEBI stock broker registration and RBI licences are not required for this activity, and distributors need not be AMC employees.

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