The Securities and Exchange Board of India (SEBI) on January 03, 2025, issued a notification under the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007.
The following has been notified by the board:
In terms of Regulation 3 of the CAPS Regulations, 2007 read with sub-regulation (2) of Regulation 7 of the IA Regulations, 2013, it stated that that an individual investment adviser or principal officer of a non-individual investment adviser, persons associated with investment advice and the partners of an investment adviser being a partnership firm, who are engaged in providing investment advice:
• shall obtain certification(s) from the National Institute of Securities Markets by passing the NISM-Series-XA: Investment Adviser (Level 1) Certification Examination as mentioned in the NISM communiqué No. NISM/Certification/Series-X-A: IA-L1/2013/01 dated May 21, 2013 and NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination as mentioned in the NISM communiqué No. NISM/Certification/Series-X-B: IA-L2/2013/01 dated November 26, 2013.
• shall in order to ensure continuity in compliance with the certification requirements, before expiry of the validity of the existing certification, obtain the certification by passing the NISM-Series-X-C: Investment Adviser Certification (Renewal) Examination as mentioned in the NISM communiqué No. NISM/Certification/NISM-Series-X-C: Investment Adviser Certification (Renewal) Examination/2024/01 dated November 5, 2024.
This notification shall come into force on January 03, 2025.
[Notification No. No. SEBI/LAD-NRO/GN/2025/223]
