SEBI puts in place certification requirements for distributors, staff of portfolio management services

Insight Online News

Mumbai, Sep 13 : Capital markets regulator Securities and Exchange Board of India (SEBI) has put in place requirements has made certificate requirment compulsory the association persons functioning as principal officer of a Portfolio Manager or employee or employees of the Portfolio Manager having decision making authority related to fund management.

As per a notification issued by the SEBI, the associated persons would have to obtain certification from the National Institute of Securities Markets by passing the NISM-Series-XXI-B: Portfolio Managers Certification Examination.

”The Portfolio Managers shall ensure that all such associated persons who are principal officers or employees having decision making authority related to fund management as on the date of this notification obtain the certification by passing the NISM-Series-XXI-B:Portfolio Managers Certification Examination within two years from the date of this notification: Provided that a Portfolio Manager, who engages or employs any such associated person who is a principal officer or an employee having decision making authority related to fund management, after the date of this notification, shall ensure that such person obtains certification by passing the NISM-Series-XXI-B: Portfolio Managers Certification Examination within one year from the date of their employment,” it said.

However, it said an associated person, who being a distributor of the Portfolio Management Services, had obtained a valid AMFI Registration Number or NISM Series-V-A exam certification would be exempted from the requirement of obtaining certification by passing the NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors Certification Examination till the validity of the said registration or certification.

UNIINDIA

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