AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.20 Increased By ▲ 0.16 (0.13%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.48 Decreased By ▼ -0.03 (-0.67%)
DCL 8.58 Increased By ▲ 0.03 (0.35%)
DFML 41.72 Increased By ▲ 0.28 (0.68%)
DGKC 87.40 Increased By ▲ 0.55 (0.63%)
FCCL 32.35 Increased By ▲ 0.07 (0.22%)
FFBL 64.99 Increased By ▲ 0.19 (0.29%)
FFL 10.23 Decreased By ▼ -0.02 (-0.2%)
HUBC 109.49 Decreased By ▼ -0.08 (-0.07%)
HUMNL 14.70 Increased By ▲ 0.02 (0.14%)
KEL 5.08 Increased By ▲ 0.03 (0.59%)
KOSM 7.61 Increased By ▲ 0.15 (2.01%)
MLCF 41.40 Increased By ▲ 0.02 (0.05%)
NBP 59.50 Decreased By ▼ -0.91 (-1.51%)
OGDC 192.40 Increased By ▲ 2.30 (1.21%)
PAEL 28.15 Increased By ▲ 0.32 (1.15%)
PIBTL 7.78 Decreased By ▼ -0.05 (-0.64%)
PPL 151.26 Increased By ▲ 1.20 (0.8%)
PRL 26.35 Decreased By ▼ -0.53 (-1.97%)
PTC 16.15 Increased By ▲ 0.08 (0.5%)
SEARL 83.50 Decreased By ▼ -2.50 (-2.91%)
TELE 7.79 Increased By ▲ 0.08 (1.04%)
TOMCL 35.48 Increased By ▲ 0.07 (0.2%)
TPLP 8.10 Decreased By ▼ -0.02 (-0.25%)
TREET 16.05 Decreased By ▼ -0.36 (-2.19%)
TRG 53.15 Decreased By ▼ -0.14 (-0.26%)
UNITY 26.29 Increased By ▲ 0.13 (0.5%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,985 Increased By 101.4 (1.03%)
BR30 31,147 Increased By 547.3 (1.79%)
KSE100 94,184 Increased By 828.8 (0.89%)
KSE30 29,175 Increased By 243.8 (0.84%)

The Securities and Exchange Commission of Pakistan (SECP) has directed Mutual Funds industry that the individuals having minimum qualification of graduation or above may sell mutual fund units after taking in-house training of minimum 3 days from an Assets Management Company (AMC). The SECP has amended Circular no. 41 of 2016 (Mandatory Requirements for Distributors Selling Mutual Fund Units of Single Asset Management company) through a circular number 18 issued Tuesday.
The Commission in exercise of the powers conferred under section 282B (3) of the Companies Ordinance, 1984 read with Regulation 66A (a) of the Non-Banking Finance Companies and Notified Entities Regulation, 2008, hereby makes following further amendment to Circular No. 41 of 2016:
The SECP said that the individuals referred in clause I(a) of the Circular No. 41 of 2016 having minimum qualification of graduation or above may sell mutual fund units after taking in-house training of minimum 3 days from an AMC without new Institute of Financial Markets of Pakistan (IFMP) certification. However, these individuals shall get new IFMP certification within six months from date of joining the AMC or Distributor.
All other requirements stipulated under Circular No. 41 of 2016 shall remain unchanged, the SECP added.

Copyright Business Recorder, 2018

Comments

Comments are closed.