In exercise of the powers conferred by sub-regulation (3) of regulation 7 of the Securities and Exchange Board of India (Certification of Associated Persons in Securities Markets) Regulations 2007, National Institute of Securities Markets (NISM) in consultation with the Securities and Exchange Board of India hereby specifies the NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination as level 2 examination which would be  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.

As specified in the SEBI notification Ref. No. LAD-NRO/GN/13/6109 dated June 19, 2013, 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) tofulfill the requirements under Regulation 7(2) of the SEBI (Investment Advisers) Regulations, 2013.

The NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination, offered by NISM, will be available from November 30, 2013.

Details of NISM-Series-X-B: Investment Adviser (Level 2) Certification Examination are given in Annexure-I and Annexure-II attached to this communiqué/press release.

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