AMDWA had been invited by SEBI on 18th May to make a representation on the recentdisclosure norms. AMDWA invited Mr. Rajiv Shah of MFDAV representing UP, Mr.Sanjeev Chakraborty of ICAA, representing West Bengal, Orissa, Bihar andJharkand, Mr. Dhruv Mehta of FIFA, and Mr. Davesh Bansal of NIMFAA representingChandigarh, Punjab and Himachal Pradesh. The team from AMDWA comprised of Mr.Pawan Parkash Gupta, Mr. Mukesh Gupta, Mr. Shekhar and Ms. Tamanna Varma.
Mr.Anant Barua, Executive Director, SEBI along with Mr. Parag Basu, CGM, SEBI andtheir team started the discussion by highly appreciating the role of an IFA inthe penetration of mutual fund business .
The discussions lasted over an hour andwas very cordial. They gave our entire mutual fund fraternity a very patienthearing and discussed in detail the role of an IFA, how to increase thepenetration of the mutual fund business through the IFA route and the recent disclosure.
A representation to Mr Ananta Barua waspersonally handed over by AMDWA. We have all requested them to rethink thecircular and give the fraternity more time to adjust to these regulatorychanges.