About Common Derivatives CPE

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 the Securities Markets) SEBI (CAPSM) Regulations, 2007. They are:

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

NISM Series XIII: Common Derivatives CPE

In exercise of the powers conferred by Sub-regulation (1) of Regulation (9) of the SEBI (Certification of Associated Persons in the Securities Markets) Regulations 2007, NISM specifies the CPE Program for ‘NISM Series XIII: Common Derivatives Certification Examination’, for the purpose of re-validation of the certificate

Accordingly, any person holding any of the following certificates: 

   (a) NISM Series XIII: Common Derivatives Certification Examination

And the validity of which has not expired can re-validate his/her Certificate, for a period of three years from its date of expiry by successfully completing NISM Series XIII: Common Derivatives Continuing Professional Education Program as specified by NISM during 12 months preceding the date of expiry of the Certificate.

Also, associated person (representatives and partners) belonging to the Principal* or the Grandfather** Category can obtain a certificate for the first time by successfully completing NISM Series XIII: Common Derivatives Continuing Professional Education Program as specified by NISM.

Note: Associated person not belonging to either the Principal or the Grandfather Category, whose certificate has expired, will have to pass the NISM Series XIII: Common Derivatives Certification Examination to obtain a new certificate.

Design of the CPE Program

• The CPE Programs shall be delivered in a classroom 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 at the end of the program.
• After verifying that candidates have successfully completed the CPE Program, NISM shall issue a new certificate for a period of three years from the date of the program or re-validate 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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Validity of the Certificate

The Validity of the Certificate obtained by attending a Continuing Professional Education Program is for a period of three years from the date of expiry of the above-mentioned Certificates for Participants belonging to the ‘General’ Category and for a period of three years or for a period of three years from the date of the Program for Participants belonging to the ‘Principal’ / ‘Grandfather by Age’ Category.

*Principal: Any associated person who is an authorized person for the Currency Derivatives segment (Currency Futures) of a recognized stock exchange or is actively engaged in the management of a SEBI registered intermediary’s (broker / sub-broker) 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 May 13, 2009 can be classified under the Grandfather Category.