NISM Certifications · NISM-Series-V-A: Mutual Fund Distributors · Investor Services
Which document must an AMC or its registrar dispatch to an investor after a new folio is opened and units are allotted, confirming the transaction?
The AMC or registrar must send a written confirmation or account statement of the allotment within the time SEBI prescribes. This is an investor service right, and year-end reports, annual reports or advertisements do not substitute for it.
- AOnly a newspaper advertisement
- BA written confirmation or account statement of the allotment, sent within the SEBI-specified timeCorrect
- CNothing, until the end of the financial year
- DOnly the scheme's annual report
Explanation
Investors are entitled to confirmation of allotment, via account statement sent by mail or email within the prescribed timeline. Advertisements, annual reports or waiting for year-end do not meet the requirement.
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