Amfi Code of Ethics
AMFI Guidelines
Intermediaries play a pivotal role in promoting sale of mutual fund schemes. AMFI has therefore taken the initiative of developing a cadre of trained professional intermediaries. As the first step AMFI launched the certification programme in association with NSE's Certification in Financial Markets (NCFM) in July 2000 and SEBI has made AMFI Certification compulsory in a phased manner.
Intermediaries consisting of individual agents, brokers, distribution houses and banks engaged in selling of mutual fund products as of now do not have any guidelines or regulatory framework relating to the business of selling Mutual Funds. It is important and necessary that these intermediaries follow professional and healthy practices. AMFI has therefore taken the initiative of framing a broad set of guidelines along with a code of conduct.
AMFI working group on Best Practices for sales and marketing of Mutual Funds under the Chairmanship of Shri B. G. Daga, Former Executive Director of Unit Trust of India with Shri Vivek Reddy of Pioneer ITI, Shri Alok Vajpeyi of DSP Merrill Lynch, Shri Nikhil Khattau of Sun F & C and Shri Chandra shekhar Sathe, Formerly of Kotak Mahindra Mutual Fund has suggested formulation of guidelines and code of conduct for intermediaries and this work has been ably done by a sub-group consisting of Shri B. G. Daga and Shri Vivek Reddy. On behalf of AMFI, I record our thanks and appreciation to all the members of the working group especially Shri B. G. Daga and Shri Vivek Reddy. Both of them have devoted considerable time and efforts in formulating AGNI.
It is our request that all the intermediaries make sincere efforts to adhere to the guidelines and the code of conduct so that all those engaged in the business of selling and marketing of mutual fund schemes follow professional, healthy and best practices for the sustained benefit of all concerned - investors, intermediaries and the Mutual Fund Industry as a whole.
1. Role of
Intermediaries play a pivotal role in promoting sale of mutual fund schemes. AMFI has therefore taken the initiative of developing a cadre of trained professional intermediaries. As the first step AMFI launched the certification programme in association with NSE's Certification in Financial Markets (NCFM) in July 2000 and SEBI has made AMFI Certification compulsory in a phased manner.
Intermediaries consisting of individual agents, brokers, distribution houses and banks engaged in selling of mutual fund products as of now do not have any guidelines or regulatory framework relating to the business of selling Mutual Funds. It is important and necessary that these intermediaries follow professional and healthy practices. AMFI has therefore taken the initiative of framing a broad set of guidelines along with a code of conduct.
AMFI working group on Best Practices for sales and marketing of Mutual Funds under the Chairmanship of Shri B. G. Daga, Former Executive Director of Unit Trust of India with Shri Vivek Reddy of Pioneer ITI, Shri Alok Vajpeyi of DSP Merrill Lynch, Shri Nikhil Khattau of Sun F & C and Shri Chandra shekhar Sathe, Formerly of Kotak Mahindra Mutual Fund has suggested formulation of guidelines and code of conduct for intermediaries and this work has been ably done by a sub-group consisting of Shri B. G. Daga and Shri Vivek Reddy. On behalf of AMFI, I record our thanks and appreciation to all the members of the working group especially Shri B. G. Daga and Shri Vivek Reddy. Both of them have devoted considerable time and efforts in formulating AGNI.
It is our request that all the intermediaries make sincere efforts to adhere to the guidelines and the code of conduct so that all those engaged in the business of selling and marketing of mutual fund schemes follow professional, healthy and best practices for the sustained benefit of all concerned - investors, intermediaries and the Mutual Fund Industry as a whole.
1. Role of