Recent Regulatory changes &

Operational updates

For institutional Use Only

 Topics covered in this session
Temporary Suspension of
01
01 KYC 08 Transmission
Overseas Schemes

02
02 NACH Mandate End date change 09 Nomination
Transmission
09
03
03
Temporary Suspension of
Overseas Schemes
10 Nomination
Value Added Services
Demo on Mail back
04
04 Uniformity in SIP Cancellation
process
11 Value Added Services
services

05
05 Method of Bank Account
Validation

06 PAN validation

07 Treatment of
Invalid ARNs
transactions on
For institutional Use Only
KYC Verification

For institutional Use Only

 KYC verification
Universally accepted KYC:
KYC Status “Validated” using Aadhaar OVD –
Transactions will be Processed.
New Customer to Mirae Asset :
Non Aadhaar KYCs - Re-KYC needs to be
done with Aadhaar (Or) With one of the
acceptable Non-Aadhaar OVD –
Transactions will be Processed post Re-KYC
Existing PAN KYC registered with Other MF -
New Customer to Mirae Asset:
KYC Status “Registered” using Aadhaar OVD –
Transactions will be Processed post Re-KYC
Reference : CVL KRA communique dated 28th March, 2024 ,CVL/OPS/INTERM/GENRL/24-193.
All Customers :
Investors should be encouraged to do the
Aadhaar based KYC as one time activity having
clear masked PDF version downloaded from UIDAI
Link:https://myaadhaar.uidai.gov.in/genricDownlo
adAadhaar
All Customers :
Email (OR) Mobile (Or) PAN – Aadhaar linking
Not Validated – “KYC will be On Hold” for both
Aadhaar / Non Aadhaar OVD w.e.f 01 Apr 24
Existing Customer of Mirae Asset:
KYC Status “Registered” or “Validated” for Aadhaar & Non
Aadhaar OVD – Transactions will be Processed provided
PAN-Aadhaar linking is done, Email /Mobile is validated
For institutional Use Only
List of OVDs accepted for New KYC or Re-KYC

Below are the OVD documents required while accepting the KYC documents from any
Individual Investor:
❖ Aadhaar Card

❖ Passport Number

❖ Voter ID Card

❖ Driving License

❖ NREGA Job Card

❖ Letter issued by NPR

❖ Others (any document notified by Central Government)

For institutional Use Only

Mandate end date change to 40 years

For institutional Use Only

Mandate Registration through Physical

For institutional Use Only

Mandate Registration through Digital Portal

For institutional Use Only

Mandate Registration through Mirae Asset Distributor
Initiated Transaction Portal

For institutional Use Only

 Temporary suspensions of overseas scheme i.e

Mirae Asset Global Electric & Autonomous Vehicles ETFs Fund of Fund &

Mirae Asset Global X Artificial Intelligence & Technology ETF Fund of Fund

For institutional Use Only

 Temporary suspensions of overseas schemes

Mirae Asset Global Electric & Autonomous

Vehicles ETFs Fund of Fund
x Lumpsum Investments ✓ Redemptions
x Switch In & ✓ Switch-out
x New Registration –SIP ✓ SWP
x New Registration –STP Mirae Asset Global X Artificial Intelligence ✓ New & Existing STP (Out
IN & Technology ETF Fund of Fund Scheme from both these
x Existing SIP schemes)
x Existing STP IN

Existing SIPs/STPs, would remain active in the system & will be reactivated once Regulators
allow to accept Inflows For institutional Use Only
Uniformity in Cancellation of SIPs
across Mutual Funds

For institutional Use Only

Uniformity in Cancellation of SIPs across Mutual Funds

For institutional Use Only

Uniformity in Cancellation of SIPs across Mutual Funds

For institutional Use Only

Uniformity in Cancellation of SIPs across Mutual Funds

For institutional Use Only

Uniformity in Cancellation of SIPs across Mutual Funds

Code Description
1 Non availability of Funds
2 Scheme not performing
3 Service issue
4 Load Revised
5 Wish to invest in other schemes
6 Change in Fund Manager
7 Goal Achieved
Not comfortable with market
8
volatility
Will be restarting SIP after few
9
months
Modifications in
10
bank/mandate/date etc
I have decided to invest
11
elsewhere
12 This is not the right time to invest
13 Others (pls specify the reason)
For institutional Use Only
Uniformity in Cancellation of SIPs across Mutual Funds

For institutional Use Only

Method of Bank Account Validation

Points to Note :

• PAN
PAN Based ✓ NRI : NPCI IMPS Name Match where no
Validation
Penny drop happens.
✓ Minor : Same sequence of validation
Penny • Now ISO –
Migrate to ✓ Change of Bank : Change in bank
Drop XML
including Additional bank mandate to be
validated.
Cheque •Basis
proof of
Leaf mandate ✓ Transmission : Before Transmission to the
claimant bank validation is done.

Reference : SEBI Circular No. SEBI /HO/OW/IMD-SEC 1/P/2024/5741 Dated 09 Feb 24

For institutional Use Only
API change on Investor PAN validation
using UTIITSL webservices

For institutional Use Only

API change on Investor PAN validation using UTIITSL
webservices – effective from 30 April 2024

Income Tax Dept. Directives – Change in Methodology for PAN Validation w.e.f 30 April 24
Applicability : Points to Note :

✓ All Unit Holders ( 1st , 2nd , 3rd Applicant) ✓ All Physical Forms to have Clear PAN Card Copy
✓ Guardian PAN in case of Minor investments of all Holders.
✓ Power Of Attorney ✓ Name as per Application should be exactly as
✓ Ultimate Beneficiary Owners per PAN with correct Date of Birth.
✓ System returns match results as “Yes” or “No”
hence exact name becomes imperative.
✓ Digital Journey : Name as per PAN and Date of
Birth

Input parameters for PAN Validation:

➢ PAN Number
➢ Name of PAN Card Holder
➢ Date of Birth / Date of Incorporation

For institutional Use Only

Treatment of Transactions received with
Invalid ARN

For institutional Use Only

Treatment of Transactions received from Invalid ARN

SUB distributor Execution Only Regular Plan /

Primary ARN EUIN*
Transaction Type ARN Mentioned Direct Plan
Valid Invalid Empanelled Valid Invalid Valid Yes

Y Y Y Regular

Y N Not applicable Direct

Lump Sum/ Y Y N.A. N.A. N.A. N Regular*
Registration Y Y Y Y Regular
Y Direct
Y Y Y Y Regular
Y Y Y Direct
Y Not applicable Regular
Trigger
Y Not applicable Direct

1. Investments from Invalid Sub ARN will also be considered under Direct Plan.
2. Transactions received from the Stock Exchange/Channel/Any other Order routing Platforms with
invalid ARN shall be rejected at an upload level.
Reference : AMFI Best Practices Guidelines Circular
For institutional UseNo.111
Only /2023-24 dated February 2, 2024
Payment of commission to New Distributor for
investor initiated ARN code change

For institutional Use Only

 Payment of commission to New Distributor for investor
initiated ARN code change

1. The guidelines are effective from the date of the circular i.e., 05th March 2024, where this is applicable for
change of ARN code requests received from investors on or after the circular date.
2. Trail commission to the new distributor for any change of ARN code initiated by investor will have a 6 months
cooling off period.
3. The eligibility of trail commission will be on prospective basis once the 6 months cooling period is completed
and the New Distributor will start receiving the trail commission.
4. The payment of commission to the new (transferee) distributor shall be based on the lower of the commission
rate (as applicable on the date of change of distributor code) of the transferor and transferee distributor. Other
than the trail commission referred to above, no other payments shall be made on account of change of
distributor code, on a prospective basis.
5. This circular is applicable only for requests originating and initiated into the same plan i.e., Regular to Regular
Plan from Broker A to Broker B.

Reference : AMFI Best Practices Guidelines Circular No.112 /2023-24 dated 05th March 2024

For institutional Use Only

Payment of commission to New Distributor for investor
initiated ARN code change
Example of Trail Commission
Folio opened through Distributor A 12-Jan-2020
Change initiated by Investor from Distributor A to Distributor B 05-Mar-2024
Cooling period will be observed till 6 months 04-Sep-2024
Trail commission will start getting computed to Distributor B 05-Sep-2024
Applicability of commission rate
Distributor A Commission rate on 05th March 2024 0.80%
Distributor B Commission rate on 05th March 2024 0.90%
Trail commission rate applicable will be lower of two 0.80%

Reference : AMFI Best Practices Guidelines Circular No.112 /2023-24 dated 05th March 2024

For institutional Use Only

Transmission Changes

For institutional Use Only

Transmission request changes

Acceptance of Legal
Heirship Certificate
(Issued by Govt Bank account
Authorities) and validation of the
Registered Will Nominee / Claimant
Introduction of ID Proof of deceased
additional slabs

For institutional Use Only

Nomination

For institutional Use Only

Importance of Nomination
Folios without Nomination / Opt-out
The deadline for Existing Individual Nomination Circular Gist
declaration - Existing Folios
folios has been extended to 30-June- Not Applicable – Nomination/Opt-
2024 failing which the folios will be Fresh Purchase out is already mandatory for new
frozen for Debit. folio creation
Redemption Not Allowed
SWP Not Allowed
SWP Registration Not Allowed
Switch-out Not Allowed
Switch-In Not Allowed
STP Triggered Transactions Not Allowed
STP Registration Not Allowed
Allowed, but payout will be moved
References : IDCW Payout
to Unclaimed scheme
1. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/42 Maturity proceeds will be moved to
,SEBI/HO/IMD/IMD-PoD-1/P/CIR/2023/74 FMP Maturity
Unclaimed schemes
2. SEBI/HO/MIRSD/POD-1/CIR/2023/158 and 160 Lien Marking Not allowed
dated September 26, 27- 2023 Allowed, but further outflows will not
Lien Removal
3. SEBI/HO/MRD/MRD-PoD-2/P/CIR/2023/166 be allowed
dated October 06, 2023 & Lien institutional Use Only of Earlier Lien Allowed
For Invocation
SEBI/HO/MIRSD/POD-1/P/CIR/2023/193
cases
Value Added Services

SIP Modification

Dedicated
Missed SIP Link
Service Desk

Distributor MFD Hand Book

Sessions

BOT For SOA

Handling
For institutional Use Only
SIP Modification

Modification
Types:
✓ Date
✓ Frequency
✓ Amount
✓ Scheme

Modes:
✓ Digital
✓ E-NACH
For institutional Use Only ✓ ISIP
✓ Physical
SIP Modification

For institutional Use Only

Missed SIP Link

For institutional Use Only

 Missed SIP Link

Points to Note :
✓ This facility is not available for Mirae Asset Large & Midcap scheme (Large & Mid Cap Fund -An open ended equity
scheme investing in both large cap and mid cap stocks).
✓ After clicking on the link investor has to mention his PAN & Registered e-mail id to login.
✓ Link will be active for 10 calendar days and also once transaction is completed successfully link will expire.
✓ Investor can edit the transaction amount but it should not be less than the minimum sip amount.
✓ Units will be allotted as per credit realisation .
✓ For Aadhaar/pan link or KYC related rejections investor has to first clear these objections post which they will be
able to use the facility
For institutional Use Only
Dedicated Service Desk – Escalation Matrix

Escalation 4

Escalation 3
Priya PR
Unit Head - Branch Operations
Escalation 1 and Investor Relations
Rekha Ambre
Pr.Priya@miraeasset.com
Dedicated Zonal Service Manager
Service Desk Ambre.Rekha@miraeasset.com
Daniel Nadar
(Or)
Cluster In Charge
IR@miraeasset.com
Nadar.Daniel@miraeasset.com
Service.Mumbai@miraeasset.com

For institutional Use Only

Disclaimers, Product Labelling and Riskometer

For institutional Use Only

 Disclaimers, Product Labelling and Riskometer

Statutory Details: Trustee: Mirae Asset Trustee Company Private Limited; Investment Manager: Mirae Asset Investment Managers (India) Private Limited (AMC); Sponsor:
Mirae Asset Global Investments Company Limited.
The information contained in this document is compiled from third party and publically available sources and is included for general information purposes only. Whilst Mirae
Asset Investment Managers (India) Private Limited (the AMC) shall have no responsibility/liability whatsoever for the accuracy or any use or reliance thereof of such
information. The AMC, its associate or sponsors or group companies, its Directors or employees accepts no liability for any loss or damage of any kind resulting out of the use
of this document. The recipient(s) before acting on any information herein should make his/her/their own investigation and seek appropriate professional advice and shall
alone be fully responsible / liable for any decision taken on the basis of information contained herein. Any reliance on the accuracy or use of such information shall be done
only after consultation to the financial consultant to understand the specific legal, tax or financial implications. For further information about other schemes (product labeling
and performance of the fund) please visit the website of the AMC: www.miraeassetmf.co.in
Mutual fund investments are subject to market risks, read all scheme related documents carefully.

For institutional Use Only

Thank You

For institutional Use Only