 "mutual funds")
The Association of Mutual Funds in India (Amfi) has written to its members asking them to avoid holding training programmes that indirectly rewards MF distributors for achieving systematic investment plan targets.
According to a Moneycontrol report, some AMCs had planned to hold training camps in locations like Andaman and Nicobar Islands for outperforming MF distributors.
The Securities and Exchange Board of India has cracked down on such practices in 2018 and said that training programmes "should not be misused for providing any reward or non-cash incentives to distributors", said the report.
