About the Program:
The LL.M. program in Investment and Securities Laws is an advanced program of legal study that is customized to the needs of the students and working legal professionals. Having committed to provide the highest quality of education in the field of securities markets, the NISM has entered into collaboration with India’s premier Law University, Maharashtra National Law University, Mumbai (Hereinafter referred as MNLU) for offering this LL.M. program in Investment and Securities Laws. This specialized LL.M. program, designed primarily for the law students intending to work in the financial markets, offers full-time, intensive academic training in the legal regulation of securities and investments in India.
In line with our mission for the academic excellence, the course offers depth of background in a broad array of topics arising out of the corporate law and securities regulation topics including the regulation of issuance of securities, secondary trading of securities, market regulation, enforcement issues, corporate finance, investment by a person resident outside India, investment advisers, derivatives, regulation of banking and financial institutions, competition law and insolvency laws. This course offers an introduction to the three most important securities laws: The Securities Contract Regulation Act of 1956, Securities Exchange Board of India Act of 1992 and the Depositories Act of 1996. The course also explores the scope of more than 39 regulations framed by SEBI and its impact on structured growth of securities markets in India. The course also focusses on learning the tools of documentation related to the securities market transactions, which would be helping in understanding the nature of disputes that arise in a financial market.
The program will be delivered by the expert faculty members drawn from both NISM and MNLU. The course will also engage some of the nation’s leading advocates in the field of corporate law and securities laws, as well as officers from various financial services regulators, whose work is oriented more toward practice and the profession, as visiting faculty. The Institute also invites from time to time professors of the foreign universities and financial market experts of other countries to take guest lectures.
Dedicated to enhancing an interdisciplinary legal and securities market education for the academic community, as well as for experienced legal and business practitioners related to financial markets, the course provides a scope to the sharpening of skills and learning the tools to be an effective business lawyer.
For Whom?
Participants with a passion for securities markets, and willingness to immerse themselves over one year for in- depth knowledge will find the LLM program as an ideal platform to launch their long-term career in the corporate world, financial and securities markets. This program is suited for fresh graduates as well as experienced candidates.
The one year LLM is an ideal platform for those with a passion for financial/securities markets, aspiring for in-depth knowledge and a long-term career in these and related areas. Graduates from various disciplines, such as Commerce & Accounting, Management, Economics, Law, Mathematics, Statistics, Engineering, etc. will develop their analytical capabilities, together with practical insights, in this LLM Program, for taking leadership roles in the financial/securities markets domain.
Where does the LLM leads to?
LLM can lead the successful participants to the following careers pathways:
- Segments: Equity Markets, Debt Markets, Currency and Currency Derivative Markets, Commodity Derivative Markets.
- Market Infrastructure Institutions: A wide range of roles (Business Development, Operations, Compliance, Risk Management, etc.) in Market Infrastructure Institutions including Stock Exchanges, Commodity Exchanges, Clearing Corporations and Depositories
- Banking: Commercial banking, Treasury Operations, Treasury Management, etc.
- Advisory: Investment Advisor, Personal Financial Planner, Wealth Manager
- Mutual Funds: Business Development, Distribution, Operations, Compliance, Risk Management, etc. in the Mutual Funds Industry
The objective of NISM for designing a program of this kind is “to create a cadre of securities market professionals”.
Program Architecture
Trimester – 1
| Paper | Paper Title | Credits | Marks |
| General Paper – 1 | Research Methods | 3 | 100 |
| General Paper – 2 | Law & Justice in a Globalized World | 3 | 100 |
| General Paper – 3 | Comparative Public Law and Governance | 3 | 100 |
| General Paper – 4 | An Overview of Securities Markets (Foundational topics along with SMART Lab) | 2 | 100 |
Trimester – 2
| Paper | Paper Title | Credits | Marks |
| Special – 1 | Company Law (Advance Concepts related to Legal setting of corporate Finance, Management and Governance) | 2 | 100 |
| Special – 2 | Securities Regulations – 1 | 2 | 100 |
| Special – 3 | Competition Law and Policy | 2 | 100 |
Trimester – 3
| Paper | Paper Title | Credits | Marks |
| Special – 4 | Banking and Insurance | 2 | 100 |
| Special – 5 | Investment Laws (Covering Securities Regulations-2) and Laws related to Foreign Investment (FEMA Act, 1999, Joint venture, Foreign Collaboration and others ) | 2 | 100 |
| Special – 6 | Law of Insolvency and Bankruptcy | 2 | 100 |
Dissertation and Certifications
| Paper | Paper Title | Credits | Marks |
| Special – 7 | Dissertation | 5 | 100 |
| Special – 8 | Professional Certifications ( Four Certifications)* | 2 | 100 |
| Total number of credits | 30 | 1300 | |
* The students of LL.M. shall have to complete the following certifications during their course of study, as these certifications are part of the academic requirements of this program:
Mandatory NISM Certifications
| SI No. | Name of the certification Exam |
| 1 | NISM-Series-VII: Securities Operations and Risk Management Certification Examination (to be completed during the 1st trimester) |
| 2 | NISM-Series-VI: Depository Operations Certification Examination (to be completed during the 1st trimester) |
| 3 | NISM-Series-V-B: Mutual Fund Foundation Certification Examination (to be completed during the 2nd trimester) |
| 4 | NISM-Series-VIII: Equity Derivatives Certification Examination (to be completed during the 2nd trimester) |
Students of LL.M. shall register and enrol for these certifications at their own cost and must submit the passing certificates before the specified timelines in order to fulfil their course completion requirements.
Our Past Recruiters
Placement Facilitation
NISM’s close connect with the industry will act as an enabler to facilitate the placement of students. The institute assists placement of the participants by inviting reputed organizations in the investment and securities markets domain to the campus placement drive. The participants are groomed for performing challenging and exciting roles in the investment and securities markets. The alumni of various other programs offered by NISM have been inducted in the following organizations through the campus placement program:
Eligibility Norms
An LL.B. Degree or an equivalent examination with a minimum of Fifty percent (50%) of marks or its equivalent grade in case of candidates belonging to General/OBC/PWD/NRI/PIO/OCI categories and Forty-Five percent (45%) of marks or its equivalent grade in case of candidates belonging to SC/ST categories. Candidates appearing /awaiting results of the qualifying examination in May/June 2025 can also apply and appear in the Admission Process. However, such candidates shall have to obtain the requisite eligibility by the cut-off date, which will be notified along with the notification of admission results. Candidate who is placed in compartment in the year of the admission would be treated as ineligible. Eligibility for Industry/ institutions sponsored Candidates
Eligibility for Industry/ institutions sponsored Candidates
The candidates who are working with the Regulators (SEBI, RBI, PFRDA, IRDA, IBBI, CCI, etc.), Market Infrastructure Institutions (NSE, BSE, MCX, NSDL, CDSL etc.), Banks and Financial Institutions, Securities Market Intermediaries, Government Departments, Judiciary and Advocates for a period of three years and above are eligible to apply under this category. The other criteria regarding the eligibility for admission for the industry/institutions sponsored candidates will be the same as applicable to the other candidates.
Selection Criteria
All the candidates (including the Industry/ Institutions sponsored and the Foreign national/NRI/NRI sponsored candidates) will be selected based on their performance in Online Test and Online Personal Interview.
Duration of Online test: 120 minutes
Types of Questions: Multiple Choice Questions
No. of Questions: 120
Syllabus: Questions will be asked from the following subjects in the online test:
| Sr No. | Subject | Weightage (Marks) |
| 1 | Constitutional Law | 20 |
| 2 | Jurisprudence | 20 |
| 3 | Law of Contract | 20 |
| 4 | Company Law | 40 |
| 5 | Current Affairs | 20 |
Test Location: Online test (Remote proctored) can be attempted by candidates from their own location.
For the candidates in the All India (including Maharashtra) category, based on the performance in the online test, top 150 candidates will qualify for the interview.
For Industry/ Institutions sponsored candidates, based on the performance in the online test top 60 candidates will qualify for the interview.
For the students under Foreign national/NRI/NRI Sponsored category, based on the performance in the online test, top 20 candidates will qualify for the interview.
The questions in the interview will be asked from the same subjects (Constitutional Law, Jurisprudence, Law of contract, Company Law and Current affairs) for all the categories.
Application Fee: Rs. 1000/-
How to Apply?
- New user need to click on https://apply.nism.ac.in/llm
- Upon successful registration, you will receive User ID and Password on the registered mobile number and Email ID.
- After registration you can Log-in and fill in the application form and pay the application fee of Rs 1,000 online.
Announcement of Selected Candidates
The selected candidates will be intimated via e-mail. Selected candidates would be required to pay the token money and remaining part of first instalment of fees within the due date mentioned therein. Provisional admission offered to selected candidates who do not pay the fees on or before the stipulated date would automatically stand cancelled.
Program Fee
| Sr No. | Particulars | 1st Installment Amount | 2nd Installment Amount | 3rd Installment Amount |
| A | Accommodation (Non-AC & single occupancy) | 53,250 | 53,250 | 1,06,500 |
| B | Mess Charges | 34,650 | 34,650 | 69,300 |
| C | 5% GST on Mess charges | 1,733 | 1,733 | 3,466 |
| D | Refundable deposit | 10,000 | – | 10,000 |
| Total | 99,633 | 89,633 | 1,89,266 | |
Fee Refund Policy
Fee refund policy will be as per UGC/MNLU guidelines as may be applicable. However, the Hostel and mess charges are non-refundable in all circumstances.
Important Dates:
| Start Date for Application | April 12,2025 |
| Last Date for Application | June 2, 2025 |
| Date of online Test | June 13, 2025 |
| Date of Online Interview | June 24 – 30, 2025 |
| Declaration of 1st Merit List | July 04, 2025 |
| Last date for payment of fee | July 25, 2025 |
| Closure of Admission | July 31, 2025 |
| Commencement of Program | August 01, 2025 |
Note: All selected candidates are required to pay the first instalment of fee within the given time frame, failing which the seat will be offered to the waitlisted candidates belonging to any of the category.
For more information, visit www.nism.ac.in
Admissions Counselling Desk- +91 – 8268002412
Email: llm@nism.ac.in
Helpdesk: +91 82680 02412
Email: pgpism@nism.ac.in