FORM A
Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations, 2016
[See Regulations 3 and 11]
Application for Grant of Certificate of Registration/Renewal as Retirement adviser
Pension Fund Regulatory and Development Authority, B-14/A,Chhatrapati Shivaji Bhawan, Qutab Institutional Area, Katwaria Saria, New Delhi-110016
INSTRUCTIONS
1. This form is meant for use by the applicant for grant of certificate of registration as a retirement adviser.
2. The applicant should complete this form, and submit it, along with all supporting documents to the Authority at its head office at New Delhi.
3. This application form should be filled in accordance with these regulations.
4. The application shall be considered by the Authority provided it is complete in all respects.
5. All information must be legible and all the pages must be numbered with signature/ stamp on each page of the form.
6. Information which needs to be supplied in more detail may be given on separate sheets which should be attached to the application form and appropriately numbered.
7. The application must be signed.
8. The application must be accompanied by an application fee as specified in the Second Schedule to these regulations.
1. GENERAL INFORMATION
(a) Name, address of the registered office, address for correspondence and principal place of business, telephone number(s), fax number(s), e-mail address of the applicant along with the documents
(b) Whether application is for registration/ renewal. Provide registration number if the application is for renewal of certificate.
(c) Name, direct line number, mobile number and e-mail of the contact person(s).
(d) Legal structure of applicant – Whether the applicant is an individual, a proprietor, body corporate (including company), partnership firm or limited liability partnership or society or trust.
(e) Whether the applicant is a bank /NBFC.
(f) Date and place of incorporation/ establishment, if any. If the applicant is incorporated outside India, details of such incorporation.
(g) Whether the applicant is engaged in retirement advisory services prior to making application under these regulations.
(h) Whether the applicant is registered with SEBI, RBI, IRDAI or PFRDA in any capacity. If so, details of such registration.
(i) Write-up on the activities of the applicant. (For renewal application, provide details of existing retirement advisory services including number and type of subscribers, assets under advice, revenue, profitability, products/ retirement products on which retirement advice was provided, etc.)
(j) Details of the certification from the accredited institute as specified in regulations 7, where applicable.
2. DETAILS OF APPLICANT ( besides general information sought above Provide details of only the section applicable to you)
I. In case applicant is a company:
1. Shareholding pattern and profile of the directors (Enclose identity proof and address proof of the directors).
2. Number of employees and agents of the applicant (hereinafter referred to as ‘representatives’) who render/ propose to render retirement advice under these regulations on behalf of the applicant.
3. Declaration by the applicant that its representatives currently comply with the certification and qualification requirements under regulation 7.
4. Declaration by the applicant that it shall ensure that its representatives comply with the certification and qualification requirements under Regulation 7 at all times.
5. List of associated companies registered with SEBI, RBI, IRDAI or PFRDA along with the registration number.
6. If applicant is a bank or NBFC, then copy of approval from RBI for undertaking retirement advisory services.
7. Net worth certificate by a chartered accountant, not more than six months old. Please note that membership number of the chartered accountant must be included in the certificate,
II. In case applicant is a proprietorship firm, partnership firm or a limited liability partnership:
1. Name of proprietor, names and beneficial ownership pattern of the partners engaged/proposed to engage in retirement advice (Enclose identity proof and address proof of the partners).
2. Whether the aforesaid proprietor or partners have:
a. A professional qualification or post-graduate degree or post graduate diploma in finance, accountancy, business management, commerce, economics, capital market, banking, insurance or actuarial science from a university or an institution recognized by the Central Government or any State Government or a recognised foreign university or institution or association; or
b. A graduate in any discipline with an experience of at least five years in activities relating to advice in financial products or retirement products or fund or asset or portfolio management. (Provide self- certified copies of supporting documents).
3. Copy of certification obtained by the aforesaid partners in accordance with regulation 7.
4. Declaration that the aforesaid proprietor or partners shall obtain fresh certification before expiry of the validity of the existing certification to ensure continuity in compliance with certification requirements.
5. Copy of assets and liabilities statement and certification of net tangible assets of the proprietor or partnership firm certified by a chartered accountant (not more than six months old at the time of filing of application). Please note that membership number of the chartered accountant must be included in the certificate.
III. In case applicant is a body corporate (other than company or limited liability partnership):
1. Shareholding pattern and profile of the directors (Enclose identity proof and address proof of the directors).
2. Whether the applicant is set up or established under an Act or the laws of the Central or State Legislature and whether the applicant is permitted to carry on of the activity of a retirement adviser (Enclose relevant extract of the relevant Statute/Act).
3. Number of employees and agents of the applicant (hereinafter referred to as ‘representatives’) who render/ propose to render retirement advice under these regulations on behalf of the applicant. 4. Declaration by the applicant that its representatives currently comply with the certification and qualification requirements under regulation 7.
5. Declaration by the applicant that it shall ensure that its representatives comply with the certification and qualification requirements under regulation 7 at all times.
6. Net worth certificate by a chartered accountant, not more than six months old. Please note that membership number of the chartered accountant must be included in the certificate.
IV. In case applicant is an individual
(1) Name, permanent address, address for correspondence and principal place of business, telephone number(s), fax number(s), e-mail address of the applicant along with the documentary proof.
(b) Whether application is for registration/ renewal. Provide registration number if the application is for renewal of certificate.
(c) Educational qualification along with supporting documents I,e. mark sheet, certificate etc.
(d) Professional qualification along with the supporting documents I,e. mark sheet, certificate etc. where applicable.
3. BUSINESS PLAN
1. Proposed business plan & means of achieving the same.
2. Process for risk profiling of the subscriber and for assessing suitability of advice.
4. DETAILS OF INFRASTRUCTURE
1. Details of office space, office equipment, furniture and fixtures, communication facilities, research capacity, research software for undertaking retirement advisory services.
2. Declaration that the applicant has the necessary infrastructure to effectively discharge the activities of a retirement adviser.
5. EXECUTION SERVICES
1. If the applicant is a body corporate, to explicitly mention whether the applicant proposes to offer distribution or execution services to its subscribers.
2. If yes, the applicant has to provide a declaration that the services are being offered through a subsidiary or separately identifiable department or division.
6. OTHER INFORMATION/DECLARATIONS/ REGULATORY ACTIONS.-
(a) Details of all settled and pending disputes in the last 5 years.
(b) Whether any previous application for grant of certificate made by any person directly or indirectly connected with the applicant has been rejected by the Authority; If yes, provide details of the same.
(c) Whether any disciplinary action or orders of restraint, debarment or prohibition of any orders of such like nature has been taken by the Authority or any other regulatory authority or government against any person directly or indirectly connected with the applicant under the Act or the regulations made there under in the last 5 years immediately preceding the date of application. If yes, provide details of such action.
(d) Whether the applicant/directors/promoters/ partners have been convicted/ indicted/involved in any economic offence or involving moral turpitude in the last 5 years immediately preceding the date of application. If yes, provide details of the same.
(e) A credit report/ score from CIBIL for the applicant. (For applicants other than financial institutions & banking companies)
(f) Declaration that the applicant, its representatives and partners, if any, are fit and proper persons based on the criteria as specified by Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations, 2016;
(g) Declaration that the applicant shall not obtain any consideration by way of remuneration or compensation or any other form whatsoever, from any person other than the subscriber being advised, in respect of the underlying products or securities for which advice is provided to the subscriber.
(h) Any other information considered relevant to the nature of services to be rendered by the applicant.
7. DECLARATION STATEMENT
I/We hereby agree and declare that the information supplied in the application, including the attachment sheets, is complete and true. AND I/ we further agree that, I/we shall notify the Authority immediately of any change in the information provided in the application.I/ We further agree that I/ we shall comply with, and be bound by the Pension Fund Regulatory and Development Authority Act, 2013 and the rules and regulations made thereunder including the Pension Fund Regulatory and Development Authority (Retirement Advisers) Regulations, 2016, and any guidelines/circulars/notifications/directions and instructions as may be issued by the Authority from time to time.
I/ We further agree that as a condition of registration, I/ we shall abide by such operational instructions/directives as may be issued by the Authority from time to time.
For and on behalf of
(Name of the applicant)
Authorized signatory/ Applicant
(Signature)
(Date and Place)
FORM B
Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations, 2016 [See regulation 9] Certificate of registration as Retirement Adviser.
In exercise of the powers conferred by sub-section 3 of section 27 of the Pension Fund Regulatory and Development authority Act, 2013 (23 of 2013), read with the regulations made there under, the Authority hereby grants a certificate of registration to _______________________________ act as a retirement adviser subject to the conditions specified hereunder and in the Act and in the regulations made thereunder
II. The Registration Number of the retirement adviser is _____________ and shall remain valid until…………….
Date :
Place : New Delhi
For and on behalf of
Pension Fund Regulatory and Development Authority
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