Introduction
SECP issued Circular No. 18 of 2018 dated October 16, 2018 to notify amendment in Circular No. 41 of 2016 (Mandatory Requirements for Distributors Selling Mutual Fund Units of Single Asset Management Company).
Commentary
Amendment address the individuals, as referred in Clause # 1a of the Circular No. 41 of 2016, having minimum qualification of graduation or above, that they may sell mutual fund units after taking in-house training of minimum 3 days from an AMC without new IFMP Certification.
However, these individuals shall get new IFMP Certification within six months from the date of joining the AMC or Distributor.
All other requirements as stipulated under Circular No. 41 of 2016 shall remain unchanged.
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