Intermediary conduct: mandatory code requires full commission disclosure, prohibition on rebates and non compliant intermediary blacklisting. Intermediaries must follow a revised code requiring compliance with SEBI mutual fund regulations, full disclosure of all commissions for competing schemes, suitability based recommendations, risk disclosure, and maintenance of infrastructure and confidentiality. The code forbids assuring returns, commission driven recommendations, churning, collusion in fraudulent practices, rebating commissions, and misleading comparisons. AMFI certification for sales personnel is mandated; mutual funds must report non compliant intermediaries to AMFI and SEBI and must not engage with those who breach the code.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Intermediary conduct: mandatory code requires full commission disclosure, prohibition on rebates and non compliant intermediary blacklisting.
Intermediaries must follow a revised code requiring compliance with SEBI mutual fund regulations, full disclosure of all commissions for competing schemes, suitability based recommendations, risk disclosure, and maintenance of infrastructure and confidentiality. The code forbids assuring returns, commission driven recommendations, churning, collusion in fraudulent practices, rebating commissions, and misleading comparisons. AMFI certification for sales personnel is mandated; mutual funds must report non compliant intermediaries to AMFI and SEBI and must not engage with those who breach the code.
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