Association of Mutual Funds in India (Amfi) has asked market regulator Sebi for further extension of deadline to comply with know your client (KYC) norms. In December 2009, Sebi had made it compulsory for fund houses to maintain all investor-related documents including power of attorney and KYC documents. They were told to collect these information from their distributors and April 1, 2010, was fixed as the deadline. However, as mutual funds were unable to meet the deadline, Amfi asked for an extension of one more month. Yet, mutual funds couldn t meet the target. We need more time as it requires …

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