The Bombay Stock Exchange (BSE), on August 30, 2024, issued a notification regarding the Extension in the timeline to obtain fresh NISM Certification under Regulation 7(2) of SEBI (Investment Advisers) Regulations, 2013.
Investment Advisers (IAs), as per SEBI's IA Regulations, 2013, are required to renew their certifications from NISM (NISM-Series-XA and XB) before the expiration of their current certification to maintain their registration. However, IAs have expressed concerns that repeatedly obtaining the same base certification disrupts business continuity.
To address these concerns, a proposal was made in the August 2024 consultation paper suggesting that IAs and Research Analysts (RAs) should only need to obtain the base certification at the time of their initial registration. Subsequent certifications would focus on incremental changes over the preceding three years. In line with this, a one-time extension has been granted until November 30, 2024, for IAs whose certifications expire on or before that date, allowing them additional time to obtain the necessary certifications.
[Notification No. 20240830-49]
