Question 1

What is HDFC MFONLINE - For Partners?

Accepted Answer

HDFCMFOnline - Your partnership portal with HDFC Mutual Fund offers a suite of conveniences to support your business needs. It takes away your operational worries and also helps you in boosting sales. It’s a single window tool for instantly converting a sales pitch into an investment. All of this, without any paperwork and from the comfort of your desktop, tablet or smart phone! Not only this, you can also monitor your business and generate meaningful analytics.

Question 2

What are the features of HDFC MFONLINE - For Partners?

Accepted Answer

Using HDFCMFOnline - for Partners, you can:      Empanel yourself with us  Onboard New Clients  Run Marketing Campaigns  View your AUM snapshots  View your Upper Crust Club points  View reports providing sales and service opportunities  View product information  Financial goal planning tools  Initiate transactions  Start SIPs  View status of transactions  Email account statements  Run Digital Marketing Campaigns and much more…

Question 3

Who can register for this facility and what are the registration prerequisites?

Accepted Answer

KYD compliant IFAs empanelled with us can register for this facility. To register, you need to have either an email ID or a mobile number and a bank account registered in our records. Any distributors tagged in category other than “IFA” on MF360 have restricted access on the portal(Partnerships, LLPs, Pvt Ltd Co etc). You can raise requests for any exception cases on mfonlinefeedback@hdfcfund.com.

Question 4

How does the registration process work?

Accepted Answer

Using HDFCMFOnline - for Partners, you can:      Click on the “Register” icon  Enter your ARN, Bank account number Email ID and Mobile Number.  A Onetime Password (OTP) will be sent to your registered email ID / mobile number. Enter the OTP to complete the registration process.  On successful validation, you will receive an email / SMS from us containing your HDFCMFOnline for Partners log-in details      Both your email ID and mobile number needs to be mandatorily registered in our records to enable access to this facility.

Question 5

I am not empanelled with HDFC AMC. Can I register for this facility?

Accepted Answer

This facility is available only for IFAs empanelled with us. You may get empanelled with us by clicking on the ‘Get Empanelled’ icon on the home page of the Distributor portal.

Question 6

What kind of transactions can I initiate on behalf of my clients?

Accepted Answer

You can initiate transactions such as:      Purchase & SIP  Switch  Redemption  STP/SWP/Flex STP  DTP  Flex Index and  Systematic Cancellations on behalf of your clients.      You may initiate these transactions for newly on boarded clients as well as your existing set of investors. You can also view and update contact details for investors while folio creation as well as for existing folios.

Question 7

What are the prerequisites for initiating transactions in a client’s folio?

Accepted Answer

This facility will be available only for those folios where:      Sole / all unit holders in the folio are KYC compliant  Email ID and mobile number of the investor is registered in the folio  The tax status in the folio is that of an Individual and the mode of holding is single / anyone or survivor. Currently we do not have transactions for minors and Non-Individual Tax Status i.e HUF, Sole Proprietorship, Company, Trust, Society etc.

Question 8

How can I create folio online?

Accepted Answer

You can use the ‘Create New Folio’ option under any of your respective investor details, by searching for a specific investor through common top search bar or from ‘Investor’ section on the LHS bar to create a new folio online.      Once the request is submitted by you, a link for approval is sent to your investor on his/her registered email id (as per KYC).  The folio number gets generated once the request is approved by the investor and the same is sent to you and your investor on your registered email ids.      Please note: An option to edit your investor’s email id and mobile number is given on the last step of folio creation prior to submission of the request.      Currently, only Individuals can create new folio online with mode of holding ‘Single’ or ‘anyone or survivor’ with following Tax status:  Resident Individual  NRI Repatriation  NRI Non-Repatriation

Question 9

How can I create a Folio in Anyone or Survivor mode of holding?

Accepted Answer

You can create a folio with ‘Create New Folio’ option under a specific investor.  Select the mode of holding, Enter applicant details, Second holder details, nominee details (optional) and bank details.  On successful submission of the request an approval link gets triggered gets to the investor and all the holders on their registered email id as per KYC . Please note the sequence in which the approval process works:             In case if there are three holders involved excluding the primary holder. The approval process takes place in a descending sequence wherein the last holder (third holder) initially receives the approval request link, post his acceptance on same the approval           request gets triggered to second and then to the first and primary holder.      Post acceptance from all the holders. An email confirmation with the new generated folio number is sent to all including the distributor on their registered email id.

Question 10

Can I initiate transactions in a folio where the mode of holding is Joint?

Accepted Answer

No. You can route such transactions through physical mode.

Question 11

Can I initiate transactions in a folio where the mode of holding is Minor?

Accepted Answer

No, currently we do not allow financial transactions in a minor folio on HDFC MFOnline Partners. However you can perform other non financial transactions such as SIP cancellation, update contact/folio details and many others for minor. You can even view all your minor transactions on HDFC MFOnline Partners.

Question 12

Can I initiate transactions in a folio where the tax status is Non-Individuals?

Accepted Answer

No, Currently we do not allow transactions for Non Individual PAN folios.

Question 13

Can I initiate transactions for NRI investors?

Accepted Answer

Yes, you can initiate transactions for your new as well as existing NRI investors. You can even create a new folio for NRI investors with following tax status:      NRI Repatriation  NRI Non-Repatriation

Question 14

How does the transactions initiation model work?

Accepted Answer

Select the transaction type (purchase/redemption/switch/SIP/STP).      Once you submit the transaction, a summary will be sent via email to your client with a link for authorization. (Please note: An option to edit your investor’s email id and mobile number is given on the last step of transaction initiation prior submission of the request)      The access to the link will be provided upon validation of the OTP sent to the client’s registered mobile number  The link will be valid for 48 hours from the time of initiation  This link is only clickable once if payment process is initiated by investor  For purchase – investor will be directed to the payment gateway for transfer for funds.  For SIP – investor will be directed to the bank with which he wants to register an SIP. The investor will receive a link on his transaction success screen as well as on his email through which he can add the biller in his bank account  Once the transaction is authorized, an email conformation will be sent to you and your client  In case the transaction is not as per the client’s requirement, he will have an option to reject the transaction with a provision to enter a comment / remark for rejection. An email will be sent to you and your client with the rejection reason.

Question 15

What will be the time stamp considered for the processing such transactions?

Accepted Answer

The date and time of authorization of the transaction by the client sends a feed to our server which will be considered as the time stamp.

Question 16

How will I know the status of the transaction initiated by me?

Accepted Answer

You may view the status of your transactions on the transaction summary page.

Question 17

Can I send account statements to my clients via this facility?

Accepted Answer

Yes, you have the option of downloading as well as sending an email directly to your client from the portal. The email sent to the client is CC to the distributor as well.

Question 18

What types of statements are available on HDFC MFOnline Partners?

Accepted Answer

You can send/download following statements for your investors on the portal & app:      Account Statement  Capital Gain Statement  Balance Confirmation Report  Exit Load Statement           You can only send the above to investors with CC to IFA through our Partner’s App. Download option is currently not available on App.

Question 19

What are the reports available for distributor on HDFC MFOnline Partners?

Accepted Answer

You can avail the following types of reports through portal:      Brokerage Report (email)  Investor Overview Reports (CGF, Minor Dormant and all investors)  Systematic Investments Overview Reports (Investor reports for ceased/expired SIP, about to cease SIP, and No SIP)  Weekly Business Report emailed to distributor on a weekly basis

Question 20

Will I get details of commission earned by me in this portal?

Accepted Answer

Yes. You can request for your brokerage statement for the last 3 months in the Reports sections and the same is emailed to your email ID from our web portal. This feature is currently not available on the App.

Question 21

What is new in HDFC MFOnline Partners?

Accepted Answer

Transaction charges are incidental expenses. We will deduct transaction charges and pay it to the distributor for invalid EUIN cases

Question 22

The distributor/employee has not received his EUIN number?

Accepted Answer

HDFC MFOnline Partners allows following new enhancements:      SIP Top Up facility for your new and existing SIPs  Register your SIPs with a lesser TAT (12 working days in case of standing instructions and 7 working days in case of an OTM)  Screen view in visually challenged mode  Choose payment mode on behalf of your investors while initiating transactions  View OTM details and use OTM for purchase and SIP transactions while initiating transactions  View/Update contact details while folio creation and for existing investors  Weekly Business Report emailed to you weekly for a summary of your week’s transactions  Digital Marketing solutions with auto posting on social media, your personalized website and much more.

Question 23

What are the browser requirements for accessing HDFC MFOnline Investors?

Accepted Answer

MFOnline Partners is optimized for Google Chrome (version 60 and above), Firefox (version 50 and above), Safari (latest version), Microsoft Edge (latest version). Usage on any other browser configuration may not be optimal.

Question 24

Can I use mobile or tablet to access HDFC MFOnline Investors?

Accepted Answer

Yes. HDFC MFOnline Distributors adapts into any screen size to give you optimal viewing experience. Features available on desktop are also available if accessed from mobile or tablet.

Question 25

I have forgotten my password how do I reset my password?

Accepted Answer

If you have forgotten your password, you can reset password it by clicking on the ‘Forgot Password’ option. Provide your ARN on the next screen to receive password reset link on email ID registered (as per KYD) with us.

Question 26

My ARN is locked. How do I unlock my account?

Accepted Answer

You can unlock your account using the ‘Unlock ARN’ option placed beneath the ARN field on the Login screen. An OTP will get triggered to your registered email ID & mobile number. Enter the OTP in the requested field and submit to unlock your account.

Question 27

How often do I need to change my password?

Accepted Answer

For security reasons, the system will initiate a mandatory password change every 90 days. You are also allowed to change the password before completing the requisite 90 days. The option to change password is available under ‘My Profile’. This option can be accessed by clicking on the profile icon as shown in the below image.

Question 28

How do I update contact information for my client?

Accepted Answer

The client’s email id can be updated from ‘Basic Info > Folio Details’ under Investors section (from LFS panel). You can also update these details while creating a new folio or initiating any transaction request for client.  On OTP will be triggered for authentication in this process which will be triggered on investor’s existing email ID & mobile      Change email ID – OTP will be triggered on existing email ID and mobile number  Change Mobile number – OTP will be triggered on existing mobile number and email ID

Question 29

How do can I initiate new transactions for my client?

Accepted Answer

On Web:  Once logged in, you can initiate all financial transactions from ‘Initiate Transaction’ option visible across portal. You can also initiate transactions from ‘Initiate transaction’ option under Investors (from LHS panel).    On App:  Once logged in, click on ‘Initiate transaction’ icon given on the Home screen to initiate any transactions for client

Question 30

How can I add an investor online?

Accepted Answer

To add a new investor you need to click on ‘Add Investor’ option on the top bar visible across portal.  Enter Pan and DOB of the client. Pan needs to be KYC compliant.  On successful KYC verification, you will be re-directed to the folio creation process.  Enter the investor’s details. You will see and submit the request. A link is sent to the client for approval on registered email id and mobile as per KYC records or contact details updated by you.  Note: You have option to edit or change the email id) of the client (on the last step) before final submission of the request b y you.  Once the request is approval by the client the folio gets created and the same is notified to and your client along with the respective new created folio number.

Question 31

Can I purchase units in Demat form through HDFC MFOnline?

Accepted Answer

No, you can buy units for your investor in physical mode only. Folio’s in which you hold investments in Demat form will not be available for transaction on HDFC MFOnline. However distributor can view the details of demat folios tagged under his ARN.

Question 32

Is there a limit on the purchase amount?

Accepted Answer

There is no limit on the purchase amount. We request you to check with investor’s respective bank for any limit / cap that they would have set for online transactions. Minimum investment amount and additional purchase amount is as per scheme information document (SID).  Please note in case of partial or eKYC the maximum transaction limit is 50,000 for a given financial year.

Question 33

How Can I cancel systematic registrations?

Accepted Answer

To cancel any systematic transactions go to Systematic corner (from LHS panel) and click on Action Tab>>cancel option for the respective transaction. In case of App, swipe right on the systematic investment you want to cancel by going to the Systematic corner from the LHS menu.

Question 34

Can I change the dividend option for client’s schemes online?

Accepted Answer

Yes, the option is available under options provided under ‘Initiate Transaction’ tab placed across the portal

Question 35

Are all schemes of HDFC Mutual Fund available for transacting online?

Accepted Answer

All schemes of HDFC Mutual Fund except Exchange Traded Funds (ETFs) are available on HDFC MFOnline.

Question 36

What is the NAV applicability for transactions submitted via HDFC MFOnline Partners?

Accepted Answer

For an amount lesser than Rs. 2 lac in non liquid schemes, the applicability of NAV is based on transaction time recorded in servers of HDFC AMC. For an amount greater than or equal to Rs 2 lac or any amount in liquid schemes, the applicable NAV shall be based on receipt of credit into our accounts as well as time stamp on our server for transaction. We receive credit relatively faster if you use net banking as an option using the banks namely, HDFC Bank, State Bank of India, ICICI Bank, Axis  Bank, Yes Bank, IDBI Bank and Kotak Mahindra Bank. Alternatively, you can use Real Time Gross Settlement (RTGS) as a payment option for faster realization of funds.

Question 37

How can my client transfer funds using RTGS?

Accepted Answer

To transfer funds using RTGS, depending upon the registration procedure of bank, the investor may have to register HDFC Mutual Fund’s bank account under RTGS option.          Beneficiary Account Name   HDFC Mutual Fund RTGS A/c       Beneficiary Bank Name   HDFC Bank       Beneficiary Bank Branch Address   Fort, Mumbai       Beneficiary Bank Account Number   00600350109922       Type of Account   Current Account       RTGS Code   HDFC0000060         The investor will have to then transfer the desired subscription amount into the above mentioned scheme collection account. Kindly make note of the Unique Transaction Reference (UTR) number. Login to HDFC MFOnline for transaction and select RTGS as a payment option and provide details viz. Investor Bank and Branch Name, IFSC Code, HDFC MF collection account number and UTR number and send the transaction for approval to the investor.

Question 38

How can the investor transfer fund using HDFC Fund Transfer?

Accepted Answer

Investor can directly transfer funds from his HDFC bank account using net banking into the respective HDFC scheme account. Once the funds are transferred he can purchase mutual fund units online you can input this reference number during Distributor Initiated transaction and send for approval to the investor.  Click here to view the HDFC scheme account numbers.  Some frequently asked questions with respect to HDFC Fund Transfer:     How do investor transfer funds from his/her HDFC Bank account to HDFC Mutual Funds scheme account?      Login to your HDFC net banking account and go to third party transfer (within the bank) and add the beneficiary account (HDFC scheme account where you wish to transfer funds). The bank may take about 12 hours to register the beneficiary account. Once the beneficiary account is registered, you can transfer funds into the scheme account.     How do I get the bank reference number?      When you transfer funds from your HDFC bank account to the HDFC scheme account, the bank will generate a reference number. The bank reference number is mandatory to purchase units online under this facility.     Is this facility available only from HDFC Bank to HDFC Bank?      Yes. Currently this facility is available only for HDFC bank to HDFC bank fund transfer.     Is there a maximum limit for transferring funds?       Please check the max amount limit from your bank before transacting.     Do I have to register the beneficiary bank account every time before doing a transaction?      No, this is a onetime activity. Each scheme account will have to be registered with the bank only once.     I erroneously transferred funds in another collection account (eg. HDFC Top200) and purchased units of another scheme (e.g. HDFC Equity Fund)?      The transaction shall be rejected and money shall be refunded within prescribed TAT.     I transferred funds in the HDFC scheme account but did not submit the purchase transaction online?      On receipt of funds, the same shall be refunded within prescribed TAT.     Can I transact online first and then transfer funds?      No. Bank reference number is mandatory for purchasing units online. Hence, you will have to first transfer funds and then transact.     I erroneously entered the wrong bank reference number while transacting online?      The transaction shall be rejected.     I transferred fund from my HDFC bank account into the scheme account at 1.00 p.m. but transacted at 3.02 p.m.?      Units will be allotted for the next business day.     Which schemes are available under this facility?      This facility is available for all schemes of HDFC Mutual Fund. You will have to register the scheme account with bank well in advance to transfer funds. Click here to view the list of HDFC scheme collection accounts.     I transferred funds from my HDFC bank account to the HDFC scheme account but did not receive any bank reference number?      You will have to get in touch with the bank to obtain the reference number. Bank reference number is mandatory for purchasing units online.

Question 39

Can I use debit card for transactions?

Accepted Answer

No, the debit card facility has been disabled for transactions on account of overall Risk mitigation process to disable Debit Card transactions since they do not offer Third Party Verification (TPV).

Question 40

Do I receive any acknowledgement for transactions?

Accepted Answer

An instant acknowledgement will be sent to you and your client on the registered email IDs. Once the transaction is processed, your client would receive an account statement via email and SMS.

Question 41

What if, during purchase, the amount is debited from my investor’s account but I do not get a confirmation from HDFC Mutual Fund?

Accepted Answer

In case if the investor has transferred funds through net banking and have received a confirmation from the bank his/her account has been debited, but have not received any purchase confirmation from our end; kindly do not transact again. The purchase transaction shall be processed at the applicable NAV when we receive the credit from your bank and feed received on server for timestamp. For any further details, you can write to us at mfonlinefeedback@hdfcfund.com.

Question 42

Is my purchase transaction valid if the amount is not debited?

Accepted Answer

If the client’s bank account is not debited, the transaction stands cancelled.

Question 43

Is SIP Top Up facility available on HDFC MFOnline?

Accepted Answer

Yes, SIP Top Up facility can be availed for all SIP registrations. In case of existing SIPs the same can be opted for SIPs registered only through OTM mode.

Question 44

Can a transaction be cancelled post initiation?

Accepted Answer

Yes, to cancel a transaction your investor can raise a service request at hello@hdfcfund.com as per the below given timelines:          Transaction Initiation Time   Cut Off Timeline       Before 3 pm (on a given day)   Request to be raised on the same day prior to 3pm       After 3 pm (on a given day)   Request to be raised till the next day 3 pm

Question 45

What if I am unable to proceed with a transaction on portal or Agent call centre due to any error/technical issue?

Accepted Answer

You can alternatively use our Transaction Bot by visiting our corporate website: www.hdfcfund.com for transaction types: Purchase, SIP, Redemption and other service requests.  Please note: This facility is available only for investor with tax status ‘Resident Individuals’ with mode of holding as ‘Single’.

Question 46

Does the user interface provide assistance for visually challenged investors?

Accepted Answer

Yes the user interface can be made user friendly by using the Font maximize, minimize and color change options with the following icons placed on the top most bar as shown in the below image.

Question 47

Where can I reach out for assistance?

Accepted Answer

For any queries /issues with respect to HDFC MFOnline Investors, you can:      Write to us at mfonlinefeedback@hdfcfund.com  Get instant chat support on Website and App  Call our agents : 1800-267-9944 (Toll-free)

Question 48

SEBI FAQs on Association with person engaged in prohibited activities

Accepted Answer

1. Which regulations provide provisions for association of persons regulated by the Board, MIIs, and their agents with another person engaged in prohibited activities?    Regulation 16A of Securities and Exchange Board of India (Intermediaries) Regulations, 2008 (‘Intermediaries Regulations’), Regulation 44B of Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 (‘SECC Regulations’) and Regulation 82B of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 (‘DP Regulations’) provide the provisions on association of persons regulated by the Board, MIIs, and their agents with another person engaged in prohibited activities (hereinafter referred to as “the regulations” or “these regulations” in this circular).    2. Who is a ‘person regulated by the Board’ for these regulations?    The term ‘Person regulated by the Board’ is defined in Intermediaries Regulations as-    (a) a person registered with the Board under section 12 of the Act;    (b) an asset management company of a mutual fund registered with the Board;    (c) investment manager of an alternative investment fund or infrastructure investment trust registered with the Board;    (d) manager of a real estate investment trust registered with the Board;    SECC Regulations and DP Regulations have similar provisions on association with another person, as in Intermediaries Regulations, for recognised stock exchanges, clearing corporations and registered depositories (MIIs) respectively.    In this circular, hereinafter, for the ease of reference, person regulated by Board as defined under Intermediaries Regulations and MIIs are collectively referred to as “persons regulated by the Board.”    3. Who is an agent of persons regulated by the Board?    As per section 182 of the Indian Contract Act, 'agent' is a person who is employed to do any act for another, or to represent another in dealings with third persons. Whether a person is an agent of another person regulated by the Board is fact specified. Some examples of agent are: Employees, Mutual Fund Distributors, Authorised Persons of stock brokers etc.    4. What are the restrictions on persons regulated by the Board and their agents on their association with another person?    Persons regulated by the Board and their agents shall not have any direct or indirect association with another person who is engaged in any of the two activities not permitted by the Board. These two prohibited activities are:    (i) providing advice or any recommendation, directly or indirectly, in respect of or related to a security or securities, without being registered with or otherwise permitted by the Board to provide such advice or recommendation; and    (ii) making any claim, of returns or performance expressly or impliedly, in respect of or related to a security or securities, without being permitted by the Board to make such a claim.    5. What constitutes an association between persons regulated by the Board and their agents with another person?    The “association” for the purposes of these regulations shall mean the association in the nature of transaction involving money or money’s worth or referral of a client or interaction of information technology systems or any other association of similar nature or character, by any name called.    6. Whether persons regulated by the Board are responsible to ensure that the persons with whom they associate do not engage in abovementioned two prohibited activities?    Yes. It is the responsibility of the persons regulated by the Board to ensure that any person associated with them or their agent, directly or indirectly, does not engage in any of the abovementioned two prohibited activities, directly or indirectly. However, such responsibility shall be with respect and to the extent of their association.    Example: If a broker is availing tax advisory services from a tax advisor and his association with the tax advisor is limited to availing such services, the broker shall only have the responsibility to ensure, while availing such services, that such tax advisor is not engaged in prohibited activities.    7. Are there any restrictions on persons regulated by the Board and their agents to associate with another person who is engaged in investor education?    Investor education is not one of the two prohibited activities under these regulations. However, it must be ensured by the persons regulated by the Board that such person providing education does not engage in any of the abovementioned two prohibited activities, directly or indirectly.    8. What distinguishes education and advice/recommendation?    A person engaged solely in education shall mean that such person is not engaged in any of the two prohibited activities. Such person should not be using the market price data of the preceding three months to speak/talk/display the name of any security including using any code name of the security in his/her talk/speech, video, ticker, screen share etc. indicating the future price, advice or recommendation related to security or securities.    9. Whether the professional services provided by the person regulated by the Board to another person (e.g. an unregistered IA), like opening of his personal demat account or trading account, amount to association of such person with such another person?    There is no restriction on any person in availing the professional services offered by persons regulated by the Board, or their agents such as demat account or trading account services provided that such services/accounts are not used for any of the abovementioned two prohibited activities, directly or indirectly.    Example: Any person can avail demat account services from any depository participant without any restriction. Such demat account of a person with DP shall not amount to association of a DP with that person. However, in case such demat account is used to engage in aforesaid two prohibited activities, directly or indirectly, depository participant shall take appropriate necessary action to deactivate/discontinue the services for such demat account.    10. Whether stock brokers can avail services of another person who is engaged in any of the abovementioned two prohibited activities?    Persons regulated by the Board including stock brokers can not avail services of another person who is engaged in any of the abovementioned two prohibited activities, directly or indirectly.    11. Whether the Mutual Fund Distributors (MFDs), Authorised Persons (APs), Portfolio Management Services Distributors (PMS Distributors) and Alternative Investment Fund Distributors (AIF Distributors) are required to comply with these regulations for their association with another person?    MFDs, APs, PMS Distributors and AIF Distributors are agents of Asset Management Companies (AMCs), stock brokers, portfolio managers and investment manager of AIFs respectively. AMCs, stock brokers, stock brokers, portfolio managers and investment manager of AIFs being persons regulated by the Board are responsible to ensure compliance of their agents with these regulations.    12. What are the consequences of violation of these regulations for persons regulated by the Board and their agents?    As per Regulation 16B of Intermediaries Regulations and Regulation 82C of DP Regulations, SEBI may, in case of violation of any of the provisions of Regulation 16A of Intermediaries Regulations and Regulation 82B of DP Regulations respectively, take such action as it may deem fit including action under Chapter V of Intermediaries Regulations. Such action may include the enquiry, adjudication or an order under Section 11B of SEBI Act, 1992.    Further, in terms of Regulations 44C of SECC Regulations, SEBI may, in case of violation of any of the provisions of Regulation 44B of SECC Regulations, take such action as it may deem fit including action as provided under regulation 49 of SECC Regulations. Such action may include adjudication or an order under Section 11B of SEBI Act, 1992.    Potential actions could include penalty, suspension/cancellation of registration, debarment etc.    13. Can SEBI registered intermediaries make any payment to or receive payment from or share or receive any client information from or with another person engaged in any of the abovementioned two prohibited activities, directly or indirectly?    For the purposes of these regulations, “association” means-    (a) a transaction involving money or money’s worth;    (b) referral of a client;    (c) interaction of information technology systems;    (d) any other association of a similar nature or character.    Sharing client information is of similar nature as of “referral of a client”. Hence, making any payment or receiving payment or sharing any client information from or with any person shall amount to “association” under these regulations, and is not permitted.    Thus, such intermediaries are prohibited to make any payment or receive payment or share any client information from or with another person engaged in any of the abovementioned two prohibited activities, directly or indirectly.    14. Whether persons regulated by the Board and their agents are allowed to associate for their branding/marketing/promotional activities with another person?    The persons regulated by the Board and their agents are allowed to associate for their branding/marketing/promotional activities with another person provided that such another person is not engaged in any of the abovementioned two prohibited activities, directly or indirectly.    15. Can SEBI regulated entities and their agents associate with another person who is promoting consumer products from the sectors such as banking, financial services, and insurance, which are not regulated by SEBI?    Some of the products which are not under the purview of SEBI may come under the jurisdiction of some other regulatory authority. Hence, regulatory provisions of such other regulatory authority shall be applicable. However, persons regulated by the Board shall ensure that they and their agents shall not associate, directly or indirectly, with another person if such another person is engaged in any of the abovementioned two prohibited activities, directly or indirectly.    e.g. if a broker associates with a person (who is promoting insurance product) engaged in any of the two prohibited activities, it would be violation of the SEBI regulations since the Intermediaries Regulations prohibit any association, directly or indirectly, with another person engaged in any of the two prohibited activities.    16. Do the following amount to violation under the regulations?    a) Advertising/branding/lead generation through a marketing agency by any name.    The same shall amount to violation of the regulations if the person regulated by the Board or its agent indirectly ends up in getting associated with an entity engaged in any of the two prohibited activities.    b) Association through digital platforms where person regulated by Board or its agent has control on where any advertisement/content appear.    No, if a person regulated by Board or its agent does not, directly or indirectly, end up in getting associated with an entity engaged in any of the two prohibited activities. Since the person or its agent has control on where its advertisement/content appear, it can ensure that there is no such association.    c) Association through digital platforms where person regulated by Board or its agent has no control over the content/entity with whom it gets associated.    The same shall amount to violation of the regulations if the person regulated by Board or its agent indirectly ends up in getting associated with an entity engaged in any of the two prohibited activities.    17. When will these regulations come into effect?    These regulations have come into force with effect from August 29, 2024. Persons regulated by the Board and their agents have been advised through a circular dated October 22, 2024 to terminate their existing contracts, if any, with persons engaged in any of the abovementioned two prohibited activities, directly or indirectly, within three months from the date of issuance of that circular. Hence, these regulations are already in force.

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