Mumbai, Oct. 22 -- The Association of Mutual Funds in India (Amfi) on Tuesday barred mutual fund distributors (MFDs) from using 52 titles including 'adviser', 'financial planner' and 'wealth adviser', following a Securities and Exchange Board of India (Sebi) guidance in this respect on September 23.
Only Sebi-registered investment advisers are allowed to use these titles.
Amfi, however, allowed MFDs to use names such as money services, asset services and securities.
The list of prohibited names is not exhaustive, an Amfi circular specified. It said MFDs must mention the term 'Amfi Registered Mutual Funds Distributor' on their websites, signboards, business cards and other printed and electronic materials in font size 12.
MFDs that are c...