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About Securities Operations and Risk Management 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

NISM CPE for Securities Operations and Risk Management

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 specifies the CPE Program for ‘NISM-Series-VII: Securities Operations and Risk Management Certification Examination’, for the purpose of revalidation of the certificate.

(Refer SEBI Notification No. LAD-NRO/GN/2010-11/21/29390 - dated December 10, 2010)

Accordingly, an Associated Person (persons associated with a registered stock-broker/trading member/clearing member in recognized stock exchanges, who are involved in, or dealing with assets or funds of investors or clients / redressal of investor grievances / internal control or risk management / activities having a bearing on operational risk) holding a certificate of ‘NISM-Series-VII: Securities Operations and Risk Management Certification Examination’, and the validity of which has not expired, can revalidate his/her certificate for a period of three years from the date of expiry of the existing certificate by successfully completing the one day Securities Operations and Risk Management Continuing Professional Education Program as specified by NISM during 12 months preceding the date of expiry of the certificate.

Also, Associated Person belonging to the Principal* or the Grandfathered** category can obtain a Certificate for the first time by successfully completing the one day Securities Operations and Risk Management Continuing Professional Education Program as specified by NISM.

Note: Associated Person not belonging to either the Principal or the Grandfathered category, whose certificate has expired, will have to pass the NISM-Series-VII: Securities Operations and Risk Management Certification Examination to obtain a new certificate.

Design of the CPE Program

  • The CPE Programs shall be delivered in a class-room format.
  • NISM has Accredited CPE Providers for the delivery of the NISM CPE Programs.
  • All NISM CPE Programs are of one day duration (approximately six hours).
  • A test shall be conducted at the end of the program.
  • After verifying that candidates have successfully completed the relevant CPE Program, NISM shall issue a new certificate or revalidate an existing certificate for a period of three years from the date of expiry of the existing certificate.

Note: The content and duration of the CPE Programs shall be specified from time to time, by NISM for each CPE Program specific to each certification examination.

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*Principal: Any person who isactively 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, can be classified under the Principal category.

**Grandfathered: Any person who has completed the age of 50 years as on December 10, 2010 or who has associated for 10 years or more with a registered stock-broker/trading member/clearing member in recognized stock exchanges, who are involved in, or dealing with assets or funds of investors or clients / redressal of investor grievances / internal control or risk management / activities having a bearing on operational risk, as on December 10, 2010,can be classified under the Grandfathered category.

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