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Certification must for merchant bankers: SEBI

The key management personnel have to pass the Merchant Banking Certification Examination conducted by NISM

January 01, 1970 5:30 IST | India Infoline News Service
SEBI (Securities and Exchange Board of India) has asked merchant bankers to ensure that at least two individuals, designated as key management personnel, should obtain certification from the National Institute of Securities Markets (NISM) within two years to continue working in the stock market.

The new norms have been notified by SEBI from August 2.

According to SEBI, those joining as key management personnel after the notification date have to obtain certification within one year.

The personnel have to pass the Merchant Banking Certification Examination conducted by NISM.

'Key Management Personnel' of merchant bankers are responsible for various activities under the regulatory mechanism such as initial public offer, open offer, buy back, delisting, among others.

The latest notification has been issued under SEBI (Certification of Associated Persons in the Securities Markets) Regulations, 2007.

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