Wednesday, February 9, 2011

Check KYD Status


AMFI vide Circular 35P/ MEM-COR/ 13/ 10-11 dated August 27, 2010, has decided to introduce Know Your Distributor (KYD) for Mutual Fund Distributors with effect from September 1, 2010, which will be similar to that of Know Your Client (KYC) for investors. KYD process requires distributors to submit mandatorily identity proof, address proof, PAN and bank account details with proof. Further AMFI has also decided to introduce bio-metrics as a part of KYD process.

The prescribed form for KYD and updation of information such as change of address, contact details, bank account, etc. are available on AMFI Website.

Know Your Distributor (KYD) is a process set out by AMFI to strengthen the registration procedure and to ensure correctness of information in the ARN registration application. This is now Mandatory and applicable for all registered Distributors as well as new applicants and renewal applicants.

To know the KYD completed status of a Distributor, please enter Permanent Account Number (PAN) or AMFI Registration Number (ARN)

How to Go ahead with KYC Process
 The KYD requirements can be completed by filling up the prescribed form and submitting the same along with the other requisite details/proof (attested true copies of supporting documents relating to proof of identity and address for verification with the originals) to any of the CAMS Point of Service (CAMS POS).

The POS will verify the above copies against the original documents, and a KYD acknowledgement will be issued. Presently there would be no charge to the ARN holders for carrying out the KYD process.

Further, AMFI has also decided to introduce bio-metrics as a part of KYD process.
As a process, the impression of your right hand index finger will be registered for identification purposes. This will be carried out at the CAMS POS, at the time of submission of the KYD form.

KYD Process
1)Distributors have to visit nearest CAMS POS with duely completed KYD applications, self attested photocopies of relevant documents and 2 self attested passport size color photographs.
2)Also carry original documents and get the photocopies verified with original by CAMS official.
3)Obtain the acknowledgement from the CAMS POS confirming completion of KYD process.
4)The existing ARN holders will have to send photocopy of the said acknowledgement to the AMCs with which you are empanelled.

KYD Forms 

List of Cams POS
Refer this link: List of cams POS


No comments:

Post a Comment

Blog Archive

Popular Posts (all time)

My Blog List