AMFI Code of Conduct
The conduct standards every AMFI registered distributor is bound by — and which we hold ourselves to.
On this page
Why this matters to you
Every AMFI registered mutual fund distributor is bound by the AMFI Guidelines and Norms for Intermediaries, which include a Code of Conduct. It is not optional, and breaching it can lead to suspension or cancellation of the ARN.
We set out the substance of it here so you know what you are entitled to expect. The authoritative text is published by AMFI at amfiindia.com.
The standards we work to
- Act honestly and in the investor's interest. Recommendations must be based on the investor's needs, not on the distributor's remuneration.
- Provide full and accurate information. Scheme features, risk factors, loads and costs must be disclosed clearly before investment.
- Never guarantee returns. A distributor must not offer, indicate or imply any assured return on a market-linked product.
- No rebating. Sharing commission with investors, in cash or kind, to induce investment is prohibited.
- No churning. Recommending switches or redemptions to generate fresh commission, without a genuine reason in the investor's interest, is prohibited.
- Handle documents responsibly. Application forms and cheques must be submitted promptly, and investor information kept confidential.
- Never accept cash. Payments must come through banking channels from the investor's own account.
- Complete certification. Distributors must hold a valid NISM certification and a current ARN, and must comply with continuing-education requirements.
- Disclose the EUIN. The Employee Unique Identification Number of the person handling the transaction must be recorded on the application.
- No misleading material. Any communication about a scheme must be consistent with the scheme documents and AMFI's advertising norms.
- Comply with anti-money-laundering rules. Including KYC, record keeping and reporting of suspicious transactions.
What this means in practice
If anyone — including anyone claiming to represent us — offers you a guaranteed return on a mutual fund, offers to share commission with you, asks for cash, or pushes you to switch schemes without a clear reason in your interest, that is a breach of this Code. Please report it to us at info@moneypathshala.com and to AMFI.
EUIN
Every transaction routed through a distributor should record the EUIN of the individual who handled it. If no EUIN is recorded, the investor is treated as having transacted on an execution-only basis without a personal recommendation. Our EUIN is E000000, and it should appear on your application forms.
Verify us
You can verify our ARN and its validity on the AMFI website's distributor search. Please do — it takes a minute and it is a habit worth having with any intermediary you deal with.
Verify an ARN on the AMFI website
Last updated: ·
Money Pathshala · ARN-000000 · Client Desk ·
info@moneypathshala.com · +91 95751 15624
PU-4, Scheme No. 54, Vijay Nagar, Indore, Madhya Pradesh 452010
