Section 20 in Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations, 2016
20. Disclosures to prospects/subscribers.
(a)A retirement adviser shall disclose to a prospective subscriber, all material information about himself/itself including its business, disciplinary proceedings history, professional qualifications, the terms and conditions on which it offers advisory services, affiliations with other intermediaries and such other information as is necessary to take an informed decision on whether or not to avail his/its services;(b)A retirement adviser shall disclose to its prospect, any consideration by way of remuneration or compensation or in any other form whatsoever, received or receivable by it;(c)A retirement adviser shall disclose to the prospect any actual or potential conflicts of interest arising from any connection to or association with any intermediaries under National Pension System or any other pension scheme regulated by Authority, including any material information or facts that might compromise its objectivity or independence in the carrying on of retirement advisory services;(d)A retirement adviser shall, while making an advice, make adequate disclosure to the prospect of all material facts relating to the key features of the services or products or securities, particularly, performance track record of various investment asset class and annuity schemes offered by various Pension Funds and Annuity Service Providers.;(e)A retirement adviser shall draw the prospect's attention to the warnings, disclaimers in documents, advertising materials relating to an investment choice and annuity choice which it is recommending to the prospect/subscriber;(f)A retirement adviser shall inform that National Pension System is not a tie-up with other products or offered in combination with other financial products or services provided by the retirement adviser;(g)A retirement adviser shall refrain from making any statements which are derogatory or disparages or distorts the image of National Pension System or that of the Authority in any manner.
