Securities and Exchange Board of India (SEBI) has advised AMFI to review the existing registration procedure for Mutual Fund Distributors and initiate necessary action to strengthen the same to ensure correctness of information furnished in the registration application and also to have in person verification of the ARN holders.
AMFI has therefore decided to introduce Know Your Distributor (KYD) process for the Mutual Fund distributors with effect from September 1, 2010. The KYD procedure consists of document verification and Bio-metric process. The distributor is therefore required to apply for KYD simultaneously along with application for registration of ARN. Please click here for detailed process note and KYD application form for
AMFI has engaged the services of Computer Age Management Services Ltd. (CAMS) to carry out the KYD process through their centres referred as "CAMS POS".