Contents
Understanding what is ARN code?
The full form of ARN is the Application Reference Number code. ARN code plays a very important role for a qualified mutual fund expert or mutual fund distributor for trading in mutual funds.ARN or AMFI Registration Number is a unique number assigned by AMFI. They are needed by Asset Management Companies Funds to deal with the mutual fund agent involved in the marketing and selling of the Mutual Funds.
To whom is whom ARN is allotted?
SEBI has mentioned various guidelines so that the distributor stays on them with undertaking mentioned in the form of application. The minimum age for getting ARN is 18 years.
- All mutual fund agent broker or mediators have to pass the NISM CERTIFICATION. It will be accepted to abide by the mutual fund seller’s code of conduct.
- Senior citizens holding attended Continuing Professional Education (CPE). It will be accepting to abide by the code of conduct and other undertakings as specified in the application form.
- Corporates involved in the business of trading Mutual Funds, which practice to AMFI and accept to remain by the code of conduct and other undertakings as stated in the application form.
How do the mediators and corporate receive the ARN code?
- Individual mediators get a photo identity card along with ARN code, address of the mediator & validity period of the ARN.
- Corporates get a registration letter with ARN code, corporate name and validity of ARN code and the employees in corporate receive a EUIN card with same details.
Way to apply for ARN code
AMFI has approved M/s Computer Age Management Services Pvt. Ltd. (CAMS) to act as a processing agent on its support for ARN.
For registering with AMFI the agents and distributors are needed to appeal in the mentioned form.
Offline
The form can be taken from the office of AMFI or any office of CAMS.
- Agra -CAMS SERVICE CENTER, No. 8, II Floor Maruti Tower, Sanjay Place, Agra, Uttar Pradesh-282002
- Ahmedabad- CAMS SERVICE CENTER, No.111- 113,1 st Floor, Devpath Building, Off C G Road, Behind Lal Bungalow, Ellis Bridge, Ahmedabad Gujarat 380006
- Amritsar – CAMS SERVICE CENTER, SCO – 18J, ‘C’ Block, Ranjit Avenue, Amritsar, Punjab,143001
- Bhopal- CAMS SERVICE CENTER, Plot no.10,2nd Floor, Alankar Complex, Near ICICI Bank, MP Nagar, Zone-II, Bhopal, MadhyaPradesh462011
- Bangalore- CAMS SERVICE CENTER, Trade CENTER,1st Floor45, Dikensen Road, Bangalore, Karnataka,560042
- Jaipur- CAMS SERVICE CENTER, R-7, Yudhisthir Marg, C-Scheme, Behind Ashok Nagar Police Station, Jaipur, Rajasthan,302001
- Kolkata – CAMS SERVICE CENTER, Saket Building,44 Park Street, 2nd Floor, Kolkata, West Bengal,700016
- New Delhi – CAMS SERVICE CENTER,7-E, 4th Floor, Deen Dayal Research Institute, Building Swami Ram, Tirath Nagar, Near Videocon Tower Jhandewalan Extension, New Delhi, New Delhi,110055
- Jammu – JRDS Heights, Lane Opp. S&S Computers Near RBI Building, Sector 14, Nanak Nagar Jammu, Jammu & Kashmir,180004
- Hyderabad- CAMS SERVICE CENTER, No.208, II Floor, Jade Arcade Paradise Circle, Hyderabad, Telangana,500003
And there are many more states having CAM offices.
Online
You can also register online, by visiting the Online Registration page that is – https://web.camsonline.com/AMFI/login.aspx
Application forms must be submitted with KYD (Know Your Distributor) a letter or along with KYD application form in person. In case the KYD process is not completed, to the office of CAMS (CAMS-POS). The documents must be examined and if seen in order and if the designated fees have been received, a Letter of Registration or photo identity card is relevant and must be issued. These will be mailed straight to the candidate.
Documents required
The intermediary must submit the following documents :
- Copy of NISM certificate
- Aadhaar card copy
- Copy of PAN card
- Bank account proof
- Two passport size photographs
Characteristics of ARN
The salient characteristics of an ARN are:
- A photo identity card having unique ARN, address, his/ her name, photo and the validity period of ARN- would be assigned to individual candidates. The senior citizens will hold a Letter of Registration having unique ARN. Even, name of the corporate and the validity time of ARN would be assigned to Corporate applicants
- Employees will be allotted a EUIN card with their EUIN, his/ her name, photo and validity period of EUIN.
- The application for registration of corporate bodies is imperatively be followed by the application for registration of corporate employee.
- Qualifying certificate is given by the National Institute of Securities Market (NISM) with ‘NISM – Series V-A: Mutual Fund Distribution Examination’. It has a validity period of 3 years. Also, the CPE certificate circulated by NISM is valid for 3 years.
- The ARN or EUIN allotted to an individual, senior citizens and employees must have validity time. The validity date is from the date of submission of the ARN registration application up to the validity date specified on the clearance certificate/ CPE certificate. In the case of corporate entities, the validity period for Letter of Registration originated is 3 years.
- No distributor should have more than 1 ARN card or Letter of Registration.
- After obtaining ARN, the agents should address the AMCs for enlisting and they can apply Mutual Fund business of the particular AMCs only after enrolling with them.
- Registered agents can be de-registered as the final objection, for the following purposes:
- Breaking the code of conduct.
- Being indicted for serious offenses by a Regulatory Authority/ Judicial Authority.
- Complaints of total carelessness supported by a consumer court.
Advantages of ARN Code
ARN code is important for both the intermediary and the investor.
- ARN number is like an ID of the mutual fund advisor, distributors, and others mediators.
- ARN code has the ability to track the assets enlisted by the intermediary.
- One can practice it to estimate the brokerage of the intermediary.
- Lawfully, an intermediary will become available to give mutual funds only after they have got the ARN number.
- AMFI ensure the investor concerning the credentials of any registered intermediary. They have to adhere to the upright code set by the AMFI.
- Investors can leverage ARN by switching the distributor. If a distributor is changed, the investor is not charged tracks commissions following in long-term financial advantages to the investor
What is the need of the ARN Code?
The mutual funds are subject to market risk but that doesn’t mean they cannot decrease the risk by more persistence. So, an agent must notify and instruct the investor about the risks involved. This will safeguard the interests of all the people included in the transaction.
SEBI and AMFI take several measures to ensure the safety of investors. One such step includes the mandatory procurement of ARN code for the distributors. For instance, Association of Mutual Funds in India (AMFI) has made it compulsory for all intermediaries involved in selling or marketing of mutual funds to clear a National Institute of Securities Markets (NISM) certification. After clearing the exam, they must register with AMFI to obtain AMFI Registration Number (ARN).
Renewal of the ARN Code
ARN holders / EUIN holders are expected to appeal for renewal of ARN / EUIN on or 6 months before the expiry of the validity time of ARN / EUIN.
- If the renewal application is presented before the expiry of the validity period of ARN / EUIN and the similarity is found in order. There would be continuity in the validity period of ARN / EUIN. This is Post renewal.
- If the renewal application is presented after expiry of ARN / EUIN, the validity of renewed ARN / EUIN it would begin from the date of submission of the renewal application. It would be valid up to the validity date specified on the NISM passing certificate / CPE Certificate.
- In the case of Corporate ARN holders, Registration letter will be renewed for 3 years from the date of submission of ARN renewal application.
The procedure of ARN code Renewal
The procedure for renewal of ARN / Letter of Registration is as under.ARN holders are expected to make an application in the directed form. Download the ARN renewal form for mentioned below :
- Click on this link – form-a. This is the form for Individual/ Employee/ New Cadre of Distributors.
- This is a form for corporates – form-b.
For the information about the fees needed to be submitted by different categories of intermediaries for renewal of ARN and by employees for renewal of EUIN, please click – ARN-EUINRenewalFees-GST-OPC
ARN holders must comply with KYD requirements. For further information on KYD please click on- kydprocess
Points to remember
- Applications with a DD (demand draft) for the proper fee amount and the needed documents should be presented at CAMS POS.
- DD should be drafted in favour of ‘ASSOCIATION OF MUTUAL FUNDS IN INDIA’.Also, payable at the place of CAMS-POS where the application is submitted.
- In case of Individuals and employees, the renewal of ARN/ EUIN is directed to either clearing the NISM Mutual Fund Distributors Certification Examination. Even. attending the programme of ‘Continuing Professional Education’ (CPE), given by NISM. Its there choice. Senior citizens are expected to attend CPE.
- The intermediaries are expected to appeal for renewal of ARN/ EUIN along with a copy of the qualifying certificate of NISM Mutual Fund Distributors Certification Examination or CPE Certificate and 2 stamp size colour photographs.
Conclusion
SEBI and AMFI take various steps to assure the safety of investors. One such measure includes the necessary procurement of ARN code for the distributors. It’s compulsory to have for becoming a mutual fund agent, distributor or any other intermediaries.
For becoming a mutual fund agent or distributor log into our website Wealthbucket. Our expert team will guide in best possible ways. If one is looking for mutual fund investment we provide the services of it like short term mutual funds, liquid mutual funds, debt mutual funds, equity mutual funds and income funds.
One can call us at +91 9999379929 or email us at contact@wealthbucket.in.
[su_button url=”https://www.wealthbucket.in/mutual-fund-agent/” target=”blank” size=”6″]Become Mutual Fund Agent[/su_button]
Realted Articles
Mutual fund tips from the experts
