|Revised Requirements for Mutual Fund Distributors for Certificate Renewal|
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 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.
A candidate with a valid NISM/ AMFI certificate is required to complete the mandated 2 day NISM CPE Programme within a period of 12 months preceding the date of the expiry of the said certificate.
As per the revised CPE requirements, CPE Programme can be successfully completed by a candidate by either attending the relevant CPE Programme on 2 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 1 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 certificate will be revalidated for a period of 3 years from the date of expiry of the existing certificate.
The CPE Programme for Mutual Fund Distributors as per the revised requirements will be available from June 1, 2012.
To provide a smooth transition, NISM will continue to offer the current CPE Programme till May 31, 2012. An associated person holding a certificate whose validity will lapse on or before November 30, 2012 may undergo the current programme till May 31, 2012. Such a person holding a valid certificate whose validity will lapse between June 1, 2012 and November 30, 2012, and who has not undergone the above programme, may attend the NISM MFD CPE as per the revised requirements from June 1, 2012 onwards, within the validity period of the said certificate.
An associated person holding a certificate whose validity will expire on or after December 1, 2012 must undergo the NISM MFD CPE as per the revised requirements from June 1, 2012 onwards.
Any person failing to comply with the complete CPE requirements within the applicable period must appear for NISM-Series-V-A: Mutual Fund Distributors Certification Examination for the purpose of obtaining a new certificate.
Design of CPE programs
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.
Registration with NISM
Candidate can do a onetime online/offline registration with NISM for attending CPE Program and obtain a unique identification number.
Fees for NISM CPE Program will be:
Rs. 1800/- (Rupees Eighteen Hundred only) per day/per candidate/per program in case a candidate opts for a single day training (i.e. candidate chooses to complete training for only day at a time out of the 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.