NISM/Certification/Series-X-A: IA-L1/2013/01 dated May 28, 2013

Communiqué/Press Release

This is with reference to NISM/Certification/Series-X-A: IA-L1/2013/01 dated May 21,2013, specifying the NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination as the level 1 examination which is the requisite standard for the associated persons registered as an investment adviser and partners and representatives of investment advisers under SEBI (Investment Advisers) Regulations, 2013 and offering investment advisory services.

NISM has also launched the level 2 of the Investment Adviser Certification Examination. An associated person shall be required to pass both the levels (i.e. NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination and NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination) to fulfill the requirements under Regulation 7(2) of the SEBI (Investment Advisers) Regulations, 2013.

The examination is being offered to the candidates since June 03, 2013. In order to incorporate the market changes, NISM had initiated the process of updating the NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination (IACE-Level 1). In this context, NISM will be launching the updated IACE—Level 1 with effect from May 13, 2014.

The IACE-Level 1 in its current format (as per the existing workbook) will be available to the candidates till May 12, 2014 and will be replaced by the updated examination (as per the revised workbook) from May 13, 2014.

The details of the updated IACE-Level 1 examination have been made available on www.nism.ac.in.

Details of the updated NISM-Series-X-A: Investment Adviser (Level 1) Certification Examination is given in Annexure-I and Annexure-II of this communique/press release.

The text of these Annexures and the registration details are available at www.nism.ac.in.

G. P. Garg

Registrar

National Institute of Securities Markets

Enclosures: Annexure I and II