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| Know Your Distributor (KYD) |
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| Please note that AMFI vide its communication ref no.
35P/ MEM-COR/ 13/ 10-11 dated August 27, 2010 and further clarification dated
February 25, 2011 issued by AMFI in this regard has issued Know Your
Distributor [KYD] guidelines and process note for Mutual Fund Distributors. |
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| The important points to be noted are: |
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| All distributors who obtain KYD acknowledgement from
CAMS by completing the KYD formalities are required to send a photo copy of
acknowledgement issued by CAMS as a confirmation of having complied with KYD.
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KYD norms are applicable for fresh ARN registration application made and ARN
renewal falling due on or after September 1, 2010. |
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Existing ARN holders are also required to comply with KYD norms by March 31,
2011, failing which AMCs are directed to suspend payment of commission till the
distributors comply with the requirements.
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CAMS have been appointed as an agency to carry out KYD formalities including
bio-metrics.
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CAMS will be initially providing KYD facilities at 60 Point of Services [POS]
which is expandable to more centers, if required.
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The details of POS are uploaded and available on the
AMFI Website.
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KYD Process Flow:
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Distributors have to visit nearest CAMS POS with duly completed KYD
applications, self attested photocopies of relevant documents and 2 self
attested passport size colour photographs.
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The distributors are required to produce, in person, the original documents for
verification at the time of submission of their applications along with self
attested photocopies of the same. Biometric process will also be carried out at
the CAMS POS, at the time of submission of applications for registration or
renewal of ARN along with KYD application form.
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Distributors have to visit nearest CAMS POS with duly completed KYD
applications, self attested photocopies of relevant documents and 2 self
attested passport size colour photographs.
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The distributors are required to produce, in person, the original documents for
verification at the time of submission of their applications along with self
attested photocopies of the same. Biometric process will also be carried out at
the CAMS POS, at the time of submission of applications for registration or
renewal of ARN along with KYD application form.
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All distributors who obtain KYD acknowledgement from CAMS by completing the KYD
formalities are required to send a photocopy of acknowledgement issued by CAMS
as a confirmation of having complied with KYD requirements to the concerning
AMCs [AMCs with which the distributors are empanelled]. |
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The AMFI drawn KYD process note and the prescribed Application form for KYD and
updating of information such as change of address, contact details, bank
account, etc. are available on AMFI Website.
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The same may also be downloaded by clicking on the link/s below:
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All distributors are required to apprise himself/ herself of the AMFI drawn KYD
process.
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MSIM has accordingly initiated steps as required by the above referred AMFI
communication to ensure effective compliance of KYD by the distributors
empanelled with MSIM.
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In case the distributors need any clarifications they can
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Either get in touch with the concerned Relationship Manager of MSIM or |
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Call our toll free number 1800 425 1313 or non toll-free number 040 2342 8757
and speak to the customer care executive or |
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Send an e-mail to mfdistributorcare@morganstanley.com |
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