PGDM 311017

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CSL311017

National Institute of Securities Markets
Communiqué/Press Release
NISM Continuing Professional Education Requirements
 

NISM/Certification/ CPE General/2011/1 dated December 21, 2011 

 

NISM Continuing Professional Education Program

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) programs for associated persons of market intermediaries who are holding valid certificates. 

Certification and Continuing Professional Education Requirements 

Obtaining a certificate for the first time

Regulation 4 of SEBI (CAPSM) Regulations, 2007 specifies the manner of obtaining the certificate the first time. These are further detailed below:

Principal1

A Principal may obtain the certificate by any of the following manners:-

(a) Passing the relevant certificate examination, as may be specified by NISM.
(b) Successfully completing a related 2 day CPE Program, as may be specified by NISM.
(c) Delivering at least four sessions in specific 2 day CPE program, as may be specified by NISM.

Grandfathered person

A person other than a Principal, who has attained 50 years of age or who has 10 years of experience, may obtain the certificate by any of the following methods:

(a) Passing the relevant certificate examination, as may be specified by NISM.
(b) Successfully completing a related 2 day CPE Program, as may be specified by NISM.

Others

All other persons may obtain the certificate by the following method:

(a) Passing the relevant certificate examination, as may be specified by NISM.

According to Regulation 5 of SEBI (CAPSM) Regulations, 2007, the certificate granted is valid for three years from the date of the grant of the certificate or revalidation thereof, as the case may be. 

Continuing Professional Education Requirements for Revalidating the Certificate 

Upon expiry of the validity of the certificate possessed by an associated person, the certificate may get revalidated, provided the associated person successfully completes a programme of continuing professional education, as may be specified by NISM during 12 months preceding the date of expiry of the certificate, or by passing the relevant NISM Certification Examination before the expiry of the existing certificate.

The certificate will be revalidated for a period of three years from the date of expiry of the existing certificate.

Different categories of persons may get their certificate revalidated through different methods as follows:

Principal

A Principal may get his/her certificate revalidated by any of the following ways:

(a) Passing the relevant certificate examination, as may be specified by NISM.
(b) Successfully completing a related 2 day CPE Program, as may be specified by NISM.
(c) Delivering at least four sessions in specific 2 day CPE program, as may be specified by NISM.

Grandfathered person

A person other than a Principal, who has attained 50 years of age or who has 10 years of experience, may get the certificate revalidated by any of the following methods:

(a) Passing the relevant certificate examination, as may be specified by NISM.
(b) Successfully completing a related 2 day CPE Program, as may be specified by NISM.

Other persons

All other persons may get their certificate revalidated by any of the following methods:

(a) Passing the relevant certificate examination, as may be specified by NISM.
(b) Successfully completing a related 2 day CPE Program, as may be specified by NISM. 

Registration for CPE 

Registration with NISM 

  • Candidate can do a onetime online/offline registration with NISM for attending CPE Program and obtain a unique identification number.
  • NISM will specify details including effective date for each CPE Program specific to each Certification Examination from time to time. 

Enrolment for attending CPE Program 

  • For each CPE program, candidate shall approach CPE Providers, as may be accredited by NISM.
  • Candidate shall use the unique identification (registration) number obtained from NISM for enrolling for a CPE program with CPE Provider, as may be accredited by NISM.
  • CPE Program can be successfully completed by a candidate by either attending the relevant CPE Program on two consecutive days or with a gap. However, both the days of CPE Program must be completed during 12 months preceding the date of expiry of the certificate. Attending only one day of the relevant CPE Program during 12 months preceding the date of expiry of the certificate shall not be considered as successful completion.
  • NISM may fix appropriate cost for the candidate for CPE Program which shall not exceed Rs 2000/- per program, per day, per candidate. 

Design of CPE programs 

  • CPE programs will be developed specific to each NISM certification.
  • NISM will issue broad guidelines for the conduct of NISM CPE programs.
  • NISM will provide broad guidelines for development of each specific CPE program and also develop the program outline listing out the learning objectives in consultation with the industry and subject matter experts. CPE program content may include recap of knowledge tested in the certification examination; incremental changes in regulations, market procedures and products as well as other relevant issues.
  • Accredited CPE Provider/s shall be required to obtain prior approval of NISM for each CPE program developed by accredited CPE provider/s which meet the guidelines and the structure as above.
  • NISM may also develop its own CPE programs and may provide to CPE providers for delivery.
  • The CPE programs conducted by CPE providers shall be approximately of 12-hour duration to be conducted over 2 training days or as may be specified by NISM.
  • At the end of the second day of the CPE Program, a test shall be conducted by the CPE Provider. (The details related to the CPE programs content, duration and test shall be specified by NISM for each CPE program specific to each certification examination, from time to time). 

Delivery of CPE programs 

  • CPE programs may be delivered in class room format.
  • NISM has accredited CPE Providers for the delivery of NISM CPE Programs. The list of the accredited providers will be made available on www.nism.ac.in.
  • In addition to the accredited CPE Providers, NISM may also provide class room delivery of CPE Program specific to each certification examination.
  • After verifying that candidates have successfully completed the relevant CPE Program, the certificate will be revalidated by NISM.

 

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M. L. Soneji
Registrar
National Institute of Securities Markets 
 
 
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Further to the above press release, NISM issued an addendum on CPE Requirements. Click here to view the addendum.


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

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