Registration conditions for managing general agents require compliance, recordkeeping, grievance redressal, and a ban on multi-level marketing. Registration of a Managing General Agent is subject to continuing conditions, including exclusive conduct of the authorised business, compliance with ... Summary
Registration conditions for managing general agents require compliance, recordkeeping, grievance redressal, and a ban on multi-level marketing.
Registration of a Managing General Agent is subject to continuing conditions, including exclusive conduct of the authorised business, compliance with applicable law, maintenance of a valid business arrangement agreement and Letter of Approval, adherence to eligibility criteria and anti-money laundering guidelines, prompt disclosure of material changes, grievance redressal, prescribed record-keeping and books of account, a prohibition on multi-level marketing, compliance with the Code of Conduct, and unencumbered shareholding.
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