Code of conduct for MF distributors revised
Amfi has revised the code of conduct for mutual fund distributors to reflect new regulatory changes brought in by Sebi. Fund distributors were earlier governed by Amfi Guidelines and Norms for Intermediaries (AGNI), which was drafted in 2002. Some of the new norms include maintaining requisite documentation in respect of “advisory” or “execution only” services provided to investors and refunding to AMCs commissions received that are subject to claw-back as per Sebi norms.
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