Certification and Registration of intermediaries - SEBI - SEBI/MFD/CIR No.01/6693/03

Circulars CHIEF GENERAL MANAGER MUTUAL FUNDS DEPARTMENT SEBI/MFD/CIR No.01/6693/03 April 03, 2003 All Mutual Funds Registered with SEBI Association of Mutual funds in India (AMFI) Dear Sirs, Certification and Registration of intermediaries Please refer to SEBI Circular nos. MFD/CIR No.10/310/01 dated September 25, 2001 and MFD/CIR/20/23230/2002 dated November 28, 2002 according to which the intermediaries engaged in distribution of mutual funds units were required to pass the certification examination and be registered with AMFI by March 31, 2003. In view of the representations received from mutual funds and distributors on the difficulties faced by them, it has been decided to extend the time limit by six months, i.e. till September 30, 2003. All mutual funds shall ensure that their intermediaries pass the certification examination and are registered with AMFI latest by September 30, 2003. AMFI shall organise a special drive for this purpose so that the intermediaries spread all over the country are in a position to appear for the certification examination. The mutual funds shall place the progress reports in this regard in all the meetings of their Boards of AMCs and trustees. The mutual funds shall also send detailed reports to SEBI covering the position as on March 31, 2003 and subsequently on quarterly basis along with Compliance Test Reports (CTRs). These guidelines are issued in accordance with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996. Yours faithfully, P.K. Nagpal