Curriculum (Securities Intermediaries Compliance(Non Fund))
NISM-Series-IIIA: Securities Intermediaries Compliance (Non-Fund) Certification Examination
CURRICULUM
PART A – UNDERSTANDING FINANCIAL STRUCTURE IN INDIA
I. INTRODUCTION TO THE FINANCIAL SYSTEM
- Financial System
- Financial Markets Infrastructure Institutions (MIIs)
- Financial Intermediaries
- Financial Securities
II. REGULATORY FRAMEWORK – GENERAL VIEW
- Regulatory System
- Financial Market Regulators
- Other Agencies in the Financial Market
- Appellate Authority
- Legislative Framework Governing the Financial Market
- International Financial Services Centre (IFSC)
III. INTRODUCTION TO COMPLIANCE
- Compliance – Introduction
- Compliance Requirements under the SEBI (CAPSM) Regulations, 2007
IV. SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992
- Salient Features of SEBI Act, 1992
V. SECURITIES CONTRACTS (REGULATION) ACT, 1956 AND RULES, 1957
- Securities Contracts (Regulation) Act, 1956
- Securities Contracts (Regulation) Rules, 1957
VI. SEBI (INTERMEDIARIES) REGULATIONS, 2008
- Introduction
- General Obligations of Intermediaries
- Inspection and Disciplinary Proceedings
- Action in Case of Default and Manner of Suspension and Cancellation of Certificate
- Code of Conduct
VII. SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 2015
- Introduction to the Insider Trading Regulations
- Code of Conduct
- Role of Compliance Officer
VIII. SEBI (PROHIBITION OF FRAUDULENT AND UNFAIR TRADE PRACTICES) REGULATIONS, 2003
- Introduction
- Prohibition of Fraudulent and Unfair Trade Practices
- Investigation
IX. PREVENTION OF MONEY LAUNDERING ACT, 2002
- Introduction
- Highlights of PMLA, 2002
- Highlights of SEBI Master Circular on Guidelines on AML and CFT
X. SEBI (KYC REGISTRATION AGENCY) REGULATIONS, 2011
- Introduction
- Registration as a KRA
- Obligations on Surrendering Certificate of Registration
- Functions and Obligations of KRA and Intermediary
- Code of Conduct for KRA
- Guidelines for Intermediaries, KRAs and In-person Verification
PART B – UNDERSTANDING INTERMEDIARY SPECIFIC REGULATIONS
XI. SEBI (FOREIGN PORTFOLIO INVESTORS) REGULATIONS, 2019
- Eligibility Criteria of Foreign Portfolio Investors
- Categories of Foreign Portfolio Investor
- Application to act as a designated depository participant
- Investment Conditions and Restrictions
- Suspension, cancellation or surrender of certificate
- Conditions for Issuance of Offshore Derivative Instruments
- Code of Conduct for foreign portfolio investor
XII. SEBI (STOCK BROKERS) REGULATIONS, 1992
- Introduction to SEBI (Stock Brokers) Regulations, 1992
- Direct Market Access
- Algorithmic Trading
- Margin Trading
- Authorised Persons
- Permitting Underwriting activities by Stockbrokers
- SEBI (Portfolio Managers) Regulations, 2020
XIII. SEBI (MERCHANT BANKERS) REGULATIONS 1992, ETC.
- Introduction
- SEBI (Merchant Bankers) Regulations, 1992
- SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011
- SEBI (Bankers to an Issue) Regulations 1994
XIV. SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS 2018
- Applicability of ICDR Regulations
- Initial Public Offer (IPO) and Rights Issue
- Role as Advisors
- Due Diligence and Compliances
- Role as an Underwriter
- SEBI Circular on Rights Issue
- General Obligations of Merchant Bankers with respect to Public and Rights Issue
XV. DEPOSITORIES ACT 1996
- Introduction
- Rights and Obligations of Depositories
- Enquiry and Inspection
- Miscellaneous Issues
XVI. SEBI (DEPOSITORIES AND PARTICIPANTS) REGULATIONS 2018
- Registration of a Depository Participant
- Rights and Obligation
- Action in case of Default
- Code of Conduct for Participant
XVII. SEBI (REGISTRAR TO AN ISSUE AND SHARE TRANSFER AGENTS) REGULATIONS, 1993
- Who is Registrar to an Issue and Share Transfer Agent?
- General Obligations and Responsibilities
- Code of Conduct for Registrars to an Issue and Share Transfer Agents
XVIII. SEBI (RESEARCH ANALYST) REGULATIONS, 2014
- Introduction
- Management of Conflict of Interest and Disclosure requirements
- General Responsibilities
- Maintenance of Record
- Role of Compliance Officer
XIX. SEBI (INVESTMENT ADVISERS) REGULATIONS, 2013
- Introduction
- General Responsibilities
- Risk Profiling and Suitability of Client
- Disclosures by Investment Adviser
- Client level segregation of advisory and distribution activities
- Implementation of advice or execution
- Maintenance of Record
- Appointment of Compliance Officer
- Code of Conduct for Investment Advisers
- Operating guidelines of IAs in IFSC
XX. SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
- Registration as Debenture Trustee
- Capital Adequacy Requirements
- Responsibilities and Obligations of Debenture Trustees
- Code of Conduct for the Debenture Trustees
- Monitoring and Disclosure Requirement
- Appointment of Compliance Officer
XXI. SEBI (CREDIT RATING AGENCIES) REGULATIONS, 1999
- Registration as a Credit Rating Agency
- General Obligations of Credit Rating Agencies
- Appointment of Compliance Officer
- Steps on auditor’s report
- Confidentiality
- Rating process
- Restrictions on Rating of Securities issued by Promoters
- Code of conduct of the Credit Rating Agencies
XXII. SEBI (CUSTODIAN) REGULATIONS, 1996
- Custodian and Custodial Services
- Registration and Eligibility
- General Obligations and Responsibilities of Custodians
- Appointment of Compliance Officer
- Code of Conduct
XXIII. PROXY ADVISORS
- Introduction
- Impact of Proxy Advisors on Corporate governance
- Internal Controls and Disclosures under Research Analyst Regulations, 2014
- Procedural guidelines prescribed for Proxy Advisors
- Grievance redressal between listed entities and proxy advisers
ANNEXURE 1: LIST OF SEBI MANDATED NISM CERTIFICATIONS UNDER SEBI (CAPSM) REGULATIONS, 2007