Investment advises to get NISM certification to advice: SEBI

Investment advisers have to obtain requisite certification from NISM after passing relevant examinations, for operating in the markets

January 29, 2014 11:10 IST | India Infoline News Service
Capital market regulator SEBI (Securities and Exchange Board of India) has said investment advisers and their 'associated persons' can get certification from NISM or any institution accredited by it to offer investment advice in capital markets.

According to SEBI norms, investment advisers and their associated persons, including their partners and representatives, have to obtain requisite certification from the National Institute of Securities Markets (NISM) after passing relevant examinations, for operating in the markets.

"Notwithstanding anything contained in this notification, such associated person, may, in alternative, also obtain certification from organisations and institutions accredited by NISM...." SEBI said in a notification on Monday.

The Securities and Exchange Board of India (Sebi) has asked the concerned entities to obtain certification from NISM "by passing the NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination".

Provided that if such an associated person has obtained certification by passing “Certified Financial Planner” certification from the Financial Planning Standards Board India as on date of this notification (27 January 2014) or obtains the “Certified Financial Planner” certification from FPSB India within thirty days from the date of this notification, he shall not be required to obtain certification by passing the IACE-1 or IACE-2, the regulator added.

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