NISM/Certification/DOCECPE/2012/1 dated July 9, 2012
National Institute of Securities MarketsCommuniqué/Press ReleaseNISM-Series-VI: Depository OperationsCertification ExaminationNISM/Certification/DOCECPE/2012/1 dated July 9, 2012
Further to NISM/Certification/CPE General/2011/1 dated December 21, 2011 and NISM/Certification/ CPE General/2011/2 dated January 23, 2012, in exercise of the powers conferred by sub-regulation (1) of Regulation (9) of SEBI (Certification of Associated Persons in Securities Markets) Regulations, 2007, pursuant to Continuing Professional Education (CPE) requirements for the associated persons engaged or employed by a registered depository participant for performing any of the activities as specified in SEBI Notification No. LAD-NRO/GN/2010-11/26/10252dated March 29, 2011;NISM now specifies the CPE Program for “NISM-Series-VI: Depository Operations Certification Examination”
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. These are:1. Offering mandatory certification examinations for associated persons of securities market intermediaries.2. Offering Continuing Professional Education (CPE) programmes for associated persons of market intermediaries who are holding valid certificates.
CPE Requirements
The CPE structure has been specified vide communiqué NISM/Certification/CPE General/2011/1 dated December 21, 2011
On or before expiry of a valid certificate1 possessed by an associated person, the associated person needs to either successfully complete the programme of continuing professional education specified by NISM during 12 months preceding the date of expiry of the certificate, or pass the relevant NISM Certification Examination before the expiry of the existing certificate, so as to have the certificate revalidated for a further period of three years.
To obtain a certificate for the first time, associated persons, who are Principals and Grandfathered Persons, will have the following options:(a) Passing the relevant certificate examination, as specified by NISM.(b) Successfully completing a related 2 day CPE Program, as specified by NISM.
The mandated two day NISM CPE Programme can be successfully completed by a candidate by either attending the relevant CPE Programme on two consecutive days or with a gap. However, both the days of CPE Programme must be completed during 12 months preceding the date of expiry of the certificate. Attending only one day of the relevant CPE Programme during 12 months preceding the date of expiry of the certificate shall not be considered as successful completion.
The fees for the program will be as below:
- Rs. 1800/- (Rupees Eighteen Hundred only) per day/per candidate/per program in case candidate opts for a single day training (i.e. candidate chooses to complete training for only day at a time out of two days of CPE Program).
- Rs. 1700/- (Rupees Seventeen Hundred only) per day/per candidate/per program in case candidate chooses to complete both days training on two consecutive days of two days CPE Program.
The certificate will be revalidated for a period of 3 years from the date of expiry of the existing certificate.
Launch Date
The CPE Programme will be made available by NISM Accredited CPE Providers from July 13, 2012.
The Programme details will be made available at www.nism.ac.in
1Certificates obtained by appearing / completing the following certifications will be considered as a valid certificate if the validity period of the certificate is not over:
(i) Examination / CPE Certificate for NISM-Series-VI: Depository Operations Certification Examination.
(ii) NSE’s Certification in Financial Markets (NSDL – Depository Operations Module) of the National Stock Exchange of India Limited.
(iii) NSDL’s Certification in Depository Operations (NCDO) of the National Securities Depository Limited.
(iv) BSE’s Certification in Financial Markets (BSE’s Certification on Central Depository) of the Bombay Stock Exchange Limited.
Further, associated person, possessing a certificate on completion of CDSL’s DP Training Programme on Central Depository Services (India) Limited shall be exempted from the requirement of DOCE for a period of 3 years from the date of completion of the programme.—sd—-
M. L. Soneji
Registrar
National Institute of Securities Markets
1 A Principal is a person who is actively engaged in the management of the intermediary’s securities business including supervision, solicitation, conduct of business, and includes: a) Sole Proprietors, b) Managing Partners and c) Whole Time Directors
