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SEBI makes certifications compulsory for investment advisers

Investment advisers would need to get certification from NISM

January 01, 1970 5:30 IST | India Infoline News Service
Market regulator SEBI (Securities and Exchange Board of India) has notified guidelines for investment advisers and their 'associated persons', making it compulsory for them to get the required certifications to operate in the stock markets.

The investment advisers and their associated persons, including representatives and partners, offering investment advice, would need to get certification from the National Institute of Securities Markets (NISM) after passing the relevant examinations.

Investment Advisers and their associated persons, including their representatives and partners, offering investment advice, shall obtain certification from the National Institute of Securities Markets (NISM) by passing the NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination, SEBI said in notification on Thursday.

If an 'associated person' has obtained certification by passing the NISM Certified Personal Financial Advisor (CPFA) examination as on the date of this notification, the person is not required to obtain such certification.

The term 'associated person' refers to a permanent or temporary employee of an organisation operating in the Indian securities space.

According to SEBI, such 'associated persons' can also obtain certification from organisations and institutions accredited by NISM.



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