Further to our press release NISM/Certification/CPE General/2011/1 dated December 21, 2011, NISM/Certification/ CPE General/2011/2 dated January 23, 2012 and NISM/Certification/ CPE General/2013/2 dated June 1, 2013, and 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 associated persons functioning as compliance officers of intermediaries registered with the Board as stock brokers, or depository participants, or merchant bankers, or underwriters, or bankers to the Issue, or debenture trustees or credit rating agencies as mentioned in the SEBI Notification No. LAD-NRO/GN/202-13/33/1103 – dated March 11, 2013; NISM now specifies the CPE Program for “NISM-Series-III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination”


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 and NISM/Certification/ CPE General/2013/2 dated June 1, 2013.

Accordingly, on or before expiry of the validity of the certificate 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:

  1. Passing the relevant certificate examination, as specified by NISM.
  2. Successfully completing a related one day CPE Program, as specified by NISM.

The fees for the program is Rs. 2000/- (Rupees Two thousand only). 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 from May 5, 2014 by NISM and its Accredited CPE Providers.

The Programme details are available at www.nism.ac.in



G. P. Garg,
National Institute of Securities Markets

Copy to:

  1. Executive Director, MIRSD, SEBI

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