Are NRIs allowed to give the NISM Mutual fund distributors exam?

[gopinathpc]

I am an NRI residing in the U.S for several years. I would like to get mutual fund certification.
I have a PAN card. Am I eligible to get the mutual fund certification?

[Arvind kumar]

As per NISM website - "Any person holding a certificate for clearing the NISM or AMFI certification examination/ AMFI refresher course/ NISM CPE, as per SEBI mandate, and where the validity of such certificate has not expired may appear for CPE." So NRIs can also appear.

[Arvind kumar]

Read NISM FAQ here (http://www.nism.ac.in/index.php?option=com_content&view=article&id=127&Itemid=138)

[gopinathpc]

As per NISM website - "Any person holding a certificate for clearing the NISM or AMFI certification examination/ AMFI refresher course/ NISM CPE, as per SEBI mandate, and where the validity of such certificate has not expired may appear for CPE." So NRIs can also appear.

What certificate should I hold before appearing at the exam? Do I need to take a refresher course first?

[Aman]

You need to hold following certificates -
1- NISM or AMFI certification examination
2- AMFI refresher course or
3- NISM CPE

[gopinathpc]

You need to hold following certificates -
1- NISM or AMFI certification examination
2- AMFI refresher course or
3- NISM CPE

Can you please let me know what is the procedure for getting these 3 items?
I was under the impression anyone can register for the MF distributor exam and whoever passes the exam can get a certificate. The certificate can be used to get appointment from any AMC. Obviously I am wrong.

[Manish_Kumar]

Read here about -
NISM Mutual Fund Certification (http://www.policywala.com/forum/showthread.php/1786-FAQs-on-NISM-Mutual-Fund-Certification-Exam)
What is AMFI Mutual Fund Certification? (http://www.policywala.com/forum/showthread.php/585-What-is-AMFI-Mutual-Fund-Certification)
Frequently Asked Questions - CPE for Mutual Fund Distributors (http://www.nism.ac.in/index.php?option=com_content&view=article&id=127&Itemid=138 )

[gopinathpc]

If I pass the NISM V MF exam will this be sufficient for becoming a MF distribtuor?
Or do I still need to pass the AMFI MF cert exam?

[PolicyWala]

If I pass the NISM V MF exam will this be sufficient for becoming a MF distribtuor?
Or do I still need to pass the AMFI MF cert exam? AMFI no more conducts any MFs related examination. You have to pass NISM V-A MFD exam.

[gopinathpc]

AMFI no more conducts any MFs related examination. You have to pass NISM V-A MFD exam.Thanks for the confirmation. I am planning to give the NISM exam at Hyderabad in Dec when I visit India. So, for this, I need to do the following -
1 Reigster and enrol for the NISM MF V exam by paying Rs 10000 at the NSE website
2. Give the exam
3. After passing the exam, send the certificate to AMC's for appointment
Is this correct?

[gopinathpc]

I am appearing at the MF V exam on 29th Dec.After I pass the exam do I need to complete any other paperwork forbecoming a distributor?I read in one of the MF material that I need to do finger printing beforeI become a distributor. Is this correct?

[Vivek]

I am appearing at the MF V exam on 29th Dec.After I pass the exam do I need to complete any other paperwork forbecoming a distributor?I read in one of the MF material that I need to do finger printing beforeI become a distributor. Is this correct?
You can email NISM and check with them -LINK (http://www.nism.ac.in/index.php?option=com_content&view=article&id=257&Itemid=216)

[gopinathpc]

I have passed my NISM MF V exam last week.
I understand there are 2 options
1. to register as an individual
2. to go under an existing distributor like Karvy

If I choose option #2 do I still need to complete KYD?
If not which form should I use to get my ARN no?

Thanks in advance!

[Aman]

Know Your Distributor (KYD) norms for Mutual Fund Distributors
AMFI (vide circular 35P/ MEM-COR/ 13/ 10-11 dated August 27, 2010 and 35P/MEM-COR/21/10-11 dated December 9, 2010) has introduced Know Your Distributor (KYD) norms for Mutual Fund Distributors with effect from September 1, 2010, requiring the distributors to submit mandatorily identity proof, address proof, PAN and bank account details with proof.

KYD norms will be applicable for fresh ARN registration and ARN renewal effective from September 1, 2010. The existing ARN holders would also be required to comply with KYD norms within 6 months i.e. by end of February 2011, failing which AMCs shall suspend payment of commission till the distributors comply with the requirements.

[gopinathpc]

Does this mean even if I go through a distributor I still need to complete the KYD?