Associated Persons as a distributor of Portfolio Management Services to obtain Certification from National Institute of Securities Markets: SEBI

Associated persons - Portfolio Management Services - National Institute of Securities Markets- SEBI - Taxscan

The Market Regulator, Security and Exchange Board of India (SEBI) on Tuesday has notified that associated persons, engaged by a Portfolio Manager as a distributor of the Portfolio Management Services, shall obtain certification from the National Institute of Securities Markets by passing the NISM-Series-XXI-A.

The SEBI has notified that the portfolio managers shall ensure that that all such associated persons who are distributors of the Portfolio Management Services as on the date of this notification obtain the certification by passing the NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors 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 distributor of the Portfolio Management Services, after the date of this notification, shall ensure that such person obtains certification by passing the NISM-Series-XXI-A: Portfolio Management Services (PMS) Distributors Certification Examination within one year from the date of their employment.

Provided further that an associated person, who being a distributor of the Portfolio Management Services, has obtained any of the registration/ certification as on the date of this notification namely a valid AMFI Registration Number (ARN); and NISM Series-V-A exam certification shall 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/ certification.

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