AMFI has allowed distributors working under sub broking model with national distributors to transfer their assets to own ARN
Jul 24 2020
News Category: Industry Update
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According to media reports, AMFI has allowed distributors working under sub broking model with national distributors to transfer their assets to own ARN. Previously, transfer of AUM from national distributor to sub distributor was not allowed as partial transaction of assets is not allowed in mutual funds. However, AMFI has revised the existing AUM transfer norms for distributors and allowed sub distributors to move assets from national distributors. However, such a transfer is allowed only if sub distributor transfers his entire assets from national distributors to own ARN.

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