About Research Analyst 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 for Associated Persons in the Securities Market Intermediaries
• Offering Continuing Professional Education (CPE) Programs for Associated Persons in the Securities Market Intermediaries

SEBI vide its notification number LAD-NRO/GN/2014-15/26/540– dated March 24, 2015 has mandated that any person acting or desirous of acting as research analyst under the SEBI (Research Analysts) Regulations, 2014, shall obtain certification from NISM by passing the “NISM-Series-XV:

Research Analyst Certification Examination”.

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 now specifies the CPE¹ Program for ‘NISM-Series-XV: Research Analyst Certification Examination’, for revalidation of the certificate.

Accordingly, such persons holding the certificate of NISM-Series-XV: Research Analyst Certification Examination whose validity is NOT expired, can revalidate his/her Certificate, for a period of three years from its date of expiry, by successfully completing NISM-Series-XV: Research Analyst CPE Program as specified by NISM during 12 months preceding the date of expiry of the Certificate.

Also, Associated Person belonging to the Principal² or the Grandfather² Category can obtain a Certificate for the first time by successfully completing NISM-Series-XV: Research Analyst CPE Program as specified by NISM.

After verifying that the candidate has successfully completed the relevant CPE 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.

Design and Delivery of the Classroom CPE Program

• This programs shall be delivered in a class-room format.
• NISM has Accredited CPE Providers for the delivery of these programs.
• These programs are of one-day duration (approximately six hours).
• A test shall be conducted at the end of the program.
• The content and duration of these programs shall be specified from time to time.

Click here to know about the Design and Delivery of the eCPE Program.

Validity of the Certificate

The Validity of the Certificate obtained by attending a Continuing Professional Education Program is for a period of three years.

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Note:

¹ CPE here means either a classroom CPE program or an eCPE program delivered in online mode.

² For details of ‘Principal’ and ‘Grandfathered’ categories, please refer to the “Eligibility Criteria” section.