Registration of intermediaries with AMFI required, with certification, conduct rules, empanelment controls and compliance reporting. Registration of intermediaries with AMFI is mandated subject to passing a certification examination and adherence to prescribed guidelines and code of conduct; mutual funds must empanel intermediaries, follow regulator and AMFI parameters for commission payments, monitor compliance across business, and report compliance in board meetings and periodic filings. An exemption allows senior citizens with prior distribution experience to be registered and exempted from the examination subject to training and submission of a fund-endorsed certificate. The code of conduct forbids commission sharing with investors and inducements, with limited transitional honouring of prior incentives.
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Provisions expressly mentioned in the judgment/order text.
Registration of intermediaries with AMFI required, with certification, conduct rules, empanelment controls and compliance reporting.
Registration of intermediaries with AMFI is mandated subject to passing a certification examination and adherence to prescribed guidelines and code of conduct; mutual funds must empanel intermediaries, follow regulator and AMFI parameters for commission payments, monitor compliance across business, and report compliance in board meetings and periodic filings. An exemption allows senior citizens with prior distribution experience to be registered and exempted from the examination subject to training and submission of a fund-endorsed certificate. The code of conduct forbids commission sharing with investors and inducements, with limited transitional honouring of prior incentives.
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