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Background

National Institute of Securities Markets (NISM) performs two functions delegated to it under the Securities and Exchange Board of India (Certification of Associated Persons in Securities Markets) SEBI (CAPSM) Regulations, 2007. They are:

  • Offering mandatory Certification Examinations for Associated Persons in the Securities Market Intermediaries
  • Offering Continuing Professional Education (CPE) Programs for Associated Persons in the Securities Market Intermediaries


 NISM Series II-B: RTA-Mutual Fund CPE

In exercise of the powers conferred by sub-regulation (1) of Regulation (9) of SEBI (Certification of Associated Persons in Securities Markets) Regulations, 2007, NISM specifies the CPE Program for the ‘NISM Series II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund Certification Examination’, for the purpose of revalidation of the certificate.

(Refer SEBI Notification No. LAD-NRO/GN/ 2009-10/18/175577 dated September 04, 2009)

Accordingly, any person holding any of the following Certificates:

   (a)  NISM Series II-B: RTA-Mutual Fund Certification Examination

   (b)  NISM Series II-B: RTA-Mutual Fund Continuing Professional Education

and the validity of which has not expired, can revalidate his / her Certificate for a period of three years from its date of expiry by successfully completing NISM Series II-B: RTA-Mutual Fund Continuing Professional Education Program as specified by NISM during 12 months preceding the date of expiry of the Certificate.

Also, Associated Person (already engaged or employed or on being engaged or employed by a Registrar to an Issue or Share Transfer Agent  for the purpose of dealing or interacting with the investors or issuers / dealing, collecting or processing applications from the applicants / dealing with matters relating to corporate actions, refunds or redemptions, repurchase of securities / handling redressal of investors’ grievances / internal control and risk management / compliance of securities laws / maintenance of books and records pertaining to the above activities) belonging to the Principal* and the Grandfather** Category can obtain a Certificate for the first time by successfully completing NISM Series II-B: RTA-Mutual Fund Continuing Professional Education Program as specified by NISM.

Note: Associated Persons not belonging to either the Principal or the Grandfather Category, whose Certificate has expired, will have to pass the NISM Series II-B: RTA-Mutual Fund Certification Examination to obtain a new Certificate.
 

Design of the CPE Program

  • The CPE Programs shall be delivered in a class-room format.
  • NISM has Accredited CPE Providers for the delivery of the NISM CPE Programs.
  • All NISM CPE Programs are of one day duration (approximately six hours).
  • A test shall be conducted by the CPE Provider at the end of the Program.

    After verifying that Candidates have successfully completed the Program, NISM shall issue a new Certificate for a period of three years from the date of the Program or revalidate an existing Certificate for a period of three years from its date of expiry.

Note: The content and duration of the CPE Programs shall be specified from time to time, by NISM for each CPE program specific to each Certification Examination.

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*Principal: Any person who is actively engaged in the management of an Registrar to an Issue and Transfer Agent or an Intermediary’s Securities business including supervision, solicitation, conduct of business, and is a Proprietor / Sole Proprietor / Partner / Managing Partner / Chairman / Director / Executive Director / Whole Time Director / Chief Executive Officer, can be classified under the Principal Category.

**Grandfather: Any associated person, other than Principal, who has completed the age of 50 years as on September 04, 2009 or who has being engaged or employed by a Registrar to an Issue or Share Transfer Agent  for the purpose of dealing or interacting with the investors or issuers / dealing, collecting or processing applications from the applicants / dealing with matters relating to corporate actions, refunds or redemptions, repurchase of securities / handling redressal of investors’ grievances / internal control and risk management / compliance of securities laws / maintenance of books and records pertaining to the above activities for 10 years or more, as on September 04, 2009, can be classified under the Grandfather Category.

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