About Mutual Fund Distributors CPE/eCPE
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 Mutual Fund Distributors
In exercise of the powers conferred by sub-regulation (1) of Regulation (9) of SEBI (Certification of Associated Persons in the Securities Markets) Regulations, 2007, NISM specifies the Continuing Professional Education Program for Associated Person holding a valid certificate of either the AMFI Mutual Fund (Advisors) Module (till May 31, 2010) offered by Association of Mutual Funds in India or the ‘NISM-Series-V (a): Mutual Fund Distributors Certification Examination’.
(Refer SEBI Notification No. LAD-NRO/GN/2010-11/09/6422dated May 31, 2010)
Accordingly, an Associated Person (distributors, agents or any persons employed or engaged or to be employed or engaged in the sale and/or distribution of mutual fund products) holding any of the following:
(a) NISM Series-V-A: Mutual Fund Distributors Certification Examination
(b) NISM Series-V-A: Mutual Fund Distributors Continuing Professional Education
(c) AMFI Mutual Fund (Advisors) Module
(d) IICM: Refresher Course on Mutual Funds
(e) CIEL: Refresher Course on Mutual Funds
and the validity of which has not expired can re-validate his/her Certificate for a period of three years from its date of expiry by successfully completing NISM Series V (a): Mutual Fund Distributors Continuing Professional Education Program as specified by NISM during 12 months preceding the date of expiry of the Certificate.
An Associated Person holding a valid ARN Card can obtain the NISM Series V (a) Mutual Fund Distributors Continuing Professional Education Certificate for the first time by successfully completing NISM Series V (a): Mutual Fund Distributors Continuing Professional Education Program as specified by NISM, during 12 months preceding the date of expiry of the ARN Card.
Also, Associated Person belonging to the Grandfather* Category can obtain the NISM Series V (a) Mutual Fund Distributors Continuing Professional Education Certificate for the first time by successfully completing NISM Series V (a) Mutual Fund Distributors Continuing Professional Education Program as specified by NISM.
Note: Associated Person not belonging to the Grandfather category, whose Certificate and ARN have expired, will have to pass the NISM-Series-V-A: Mutual Fund Distributors Certification Examination to obtain a new Certificate.
Design and Delivery of 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 CPE Program, NISM shall issue a new Certificate for a period of three years from the date of the Program or revalidate an existing Certificate for a period of three years from its date of expiry.
Design and Delivery of the eCPE Program –
• The e-CPE Programs is delivered in online mode.
• Pre-requisite for eCPE –
• System requirement – Candidates should, preferably, have a laptop/desktop enabled with webcam and microphone with at least 8GB of RAM, Processor – i3 dual core 2.2 Ghz 5th Generation or equivalent/higher.
• Internet requirement – Stable Broad band internet with minimum speed of at 2 Mbps download speed.
• Browser requirement – Latest Google Chrome (version 80 and above) only after installing HirePro Remote Proctoring Chrome Extension. Please note that Firefox Mozilla, Microsoft Edge or Internet Explorer are not supported.
• Mobile Phone Usage – Mobile phone is not supported to access eCPE Sessions.
• Office Networks – Please be aware that OFFICE NETWORKS MAY BLOCK certain course content and therefore, you may not be able to access or complete the course from your office network. It is therefore, recommended to use your personal network preferably.
• Candidate’s performance during the online eCPE session may be monitored by NISM either in its entirety through or in part thereof using snapshots and/or microphone feed. The audio-visuals and other information so obtained will be stored by NISM on its server and/or a third-party hosting service provider and/or its supplier/s. The proctoring information in the form of audio-visuals may form a part of the candidate evaluation process followed by NISM before issuance of any certificate. NISM may reject issuance of certificate / cancel an issued certificate and/or take appropriate action based on the proctoring information.
• Duration of Mutual Fund eCPE programme shall be of around three to five hours.
• After verifying that Candidates have successfully completed the e-CPE Program, NISM shall issue a new Certificate for a period of three years from the date of the Program or revalidate an existing Certificate for a period of three years from its date of expiry.
Validity of the Certificate
The Validity of the Certificate obtained by attending a Continuing Professional Education Program is for a period of three years from the date of expiry of any of the above mentioned Certificates.
