NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund Certification Examination

Curriculum

I: Introduction to Securities

• Introduction to Equity and Debt
• Features of Equity Capital and Benefits to Equity Investors
• Features of Debt Capital and Benefits to Debt Investors
• Hybrid Structures

II: Characteristics of Equity Shares

• Investors in Equity Shares
• Rights of a Shareholder
• Risks in Equity Investing
• Equity Terminology
• Corporate Actions
• Preference Shares
• Rights Issue of Shares
• Preferential Issue

III: Characteristics of Debt Securities

• Features of a Debt Security
• Market Value of a Debt security
• Yield from Debt Instruments
• Types of Debt Securities
• Classification of Debt Market
• Credit Rating
• Money Market Instruments

IV: Characteristics of Other Securities

• Warrants 
• Convertible Debentures
• Depository Receipts
• Foreign Currency Convertible Bond (FCCB)
• Exchange Traded Funds (ETFs) and Index Funds
• Investment Trusts  

V: SEBI – Role and Regulations

• Securities and Exchange Board of India Act, 1992 and Role of SEBI
• SEBI Regulations specifically aimed at Investor Protection
• Investor Education and Protection Fund (IEPF)
• SEBI Regulations for Registrars and Transfer Agents

VI: Basics of Registrars and Transfer Agents

• Introduction
• Investor Service Centre (ISC) and Official Point of Acceptance (OPA)
• Qualified Registrar and Transfer Agents (QRTAs)
• RTA and Depository Interface
• Industry Overview

VII: Registrar and Transfer Agents Regulations

• Guidelines under SEBI (LODR) Regulations 2015
• SEBI (Registrars to an Issue and Share Transfer Agents) Regulations 1993
• Enhanced Monitoring Guidelines for QRTAs
• Cyber Security and Cyber Resilience Framework for QRTAs
• Systems Audit Framework
• Segregated Portfolios
• Ultimate Beneficial Owner

VIII: Basics of Mutual Funds

• Introduction to Mutual Funds
• Advantages of Mutual Funds
• Open Ended and Close Ended Mutual Funds
• Assets under Management (AUM)
• Total Expense Ratio
• Net Assets

IX: Mutual Fund Structure and Constituents

• Sponsor
• Trustees
• Asset Management Company (AMC)
• Custodians
• Regulation of Mutual Funds
• Constituents and Service Providers

X: Mutual Fund Products

• Product Differentiation
• Types of Mutual Fund Plans
• Features of Mutual Fund Products
• Product Labelling
• Strategy-based Classification
• Product Creation Process
• Scheme related Documents
• Types of Mutual Funds

 XI: Operational Concepts of Mutual Funds

• New Fund Offer (NFO)
• On-going/ Continuous Offer
• Computation of Net Asset Value (NAV)
• Applicable NAV
• Time Stamping and Risk Control
• Cut Off Time
• Investing in Mutual Funds through Stock Exchanges
• Holding Units in Dematerialized Form
• Role of RTA in Tax Computation
• Reporting Requirements to Central Board of Direct Taxes (CBDT)

 XII: Investors in Mutual Funds

• Individual Investors
• Institutional Investors
• Investor Information and Documentations
• Know Your Customer (KYC) Norms
• Power of Attorney
• Nomination
• FATCA and CRS Compliance

XIII: Banking Operations in Mutual Funds

• Payment Mechanism
• Bank Accounts maintained by Mutual Funds
• Electronic Clearing Mechanisms
• Role of Registrars and Transfer Agents (RTAs) in Banking Operations

XIV: Financial Transactions

• Application Form Vs Transaction Slip
• Purchase Transactions
• Redemptions
• Account Statements for Investments
• Switch
• Systematic Transactions
• Turn-around-times for various Financial Transactions with Mutual Funds
• Role of RTA in Commission Payment

XV: Non-Financial Transactions

• Change in Name (Individual Investors)
• Change of Address
• Change of Bank Details
• Change/ Updation of Other Details
• Minor becoming Major
• Registration of Power of Attorney (PoA)
• Registration of Nominee
• Pledge and Lien Marking
• Transmission of Units
• Change in Option
• Change in Corporate Name or Status
• Investor Grievance Redressal
• Value Added services by RTAs