Discontinuation of usage of pool accounts for transactions in the units of Mutual Funds, Two Factor Authentication (‘2FA’) for redemption and other related requirements: Extension of timeline

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....ll Depositories All Mutual Funds All Asset Management Companies ('AMCs') All Trustee Companies/ Boards of Trustees of Mutual Funds All Registrar to an Issue and Share Transfer Agents ('RTAs') Association of Mutual Funds in India ('AMFI') Dear Sir / Madam, Subject: Discontinuation of usage of pool accounts for transactions in the units of Mutual Funds, Two Factor Authentication ('2FA') for r....

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....us modalities of discontinuation of pooling and migration of existing mandates (the aforementioned circulars are collectively referred to as "Circulars"). Various other requirements related to the modalities of discontinuation of pooling, measures to prevent third-party payments and to safeguard the interest of unitholders including 2FA for redemption, were also prescribed in the "Circulars". 2. ....

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....Clearing Corporations and those mandates shall exclusively be for subscriptions to units of Mutual Fund schemes and not for any other purpose." 5. The AMCs, recognised Stock Exchanges, Depositories, recognised Clearing Corporations and Registrar to an Issue and Share Transfer Agents shall take necessary steps for implementing the "Circulars" (along with the clauses relating to 2FA for redemption ....

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....BI (Mutual Funds) Regulations, 1996, to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market. Yours faithfully, R. Anand Deputy General Manager Investment Management Department Tel: 022 - 26449237 Email: [email protected] Annexure - A Timelines given by AMFI in consultation with various stakeholders to implement disconti....