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

Under the AMFI Code of Conduct and SEBI norms, which of the following must a mutual fund distributor hold before selling mutual fund schemes to investors?

A mutual fund distributor must hold a valid AMFI Registration Number, which is granted after passing the NISM-Series-V-A certification. Other licences such as portfolio manager, stock exchange membership or depository participant registration are not required to distribute mutual fund schemes.

  1. AA valid AMFI Registration Number (ARN) obtained after passing the NISM-Series-V-A examCorrect
  2. BA portfolio manager licence from SEBI
  3. CA trading membership of a stock exchange
  4. DA depository participant registration

Explanation

Distributors must pass the NISM-Series-V-A certification and register with AMFI to obtain an ARN. A PMS licence, exchange membership or DP registration is not required for distributing mutual fund units.

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