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About Securities Intermediaries Compliance CPE

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 to Associated Persons in the Securities Market Intermediaries
  • Offering Continuing Professional Education (CPE) Programs to Associated Persons in the Securities Market Intermediaries

NISM Series III-A: Securities Intermediaries Compliance (Non-Fund) CPE

In exercise of the powers conferred by Sub-regulation (1) of Regulation (9) of the SEBI (Certification of Associated Persons in the Securities Markets) Regulations 2007, NISM specifies the CPE Program for ‘NISM Series III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination’, for the purpose of revalidation of the Certificate.

(Refer SEBI Notification No. LAD/NRO/GN/2012-13/33/1103dated March 11, 2013)

Accordingly, any person holding any of the following Certificates:

(a)  NISM Series III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination

(b)  NISM Series III-A: Securities Intermediaries Compliance (Non-Fund) Continuing Professional Education

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 III-A: Securities Intermediaries Compliance (Non-Fund) Continuing Professional Education Program as specified by NISM during 12 months preceding the date of expiry of the Certificate.

Also, Associated Person belonging to the Principal* or the Grandfather** Category can obtain a Certificate for the first time by successfully completing NISM Series III-A: Securities Intermediaries Compliance (Non-Fund) Continuing Professional Education Program as specified by NISM.

Note: Associated Person not belonging to either the Principal or the Grandfather Category, whose Certificate has expired, will have to pass the NISM Series III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination to obtain a new Certificate.

Design of the CPE Program

  • The CPE Programs shall be delivered in a classroom 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 relevant CPE Program, NISM shall issue a new Certificate for a period of three years from the date of the Program or re-validate an existing Certificate for a period of three years from its date of expiry.

Note: The content and duration of the CPE Programs shall be specified from time to time, by NISM for each CPE Program specific to each Certification Examination.

Click here to know about the Design and Delivery of the eCPE Program.

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 for Participants belonging to the ‘General’ Category and for a period of three years or for a period of three years from the date of the Program for Participants belonging to the ‘Principal’ / ‘Grandfather by Age’ / ‘Grandfather by Experience’ Category.

*Principal: Any person who is actively engaged in the management of a SEBI registered Broker / Depository Participant / Merchant Banker / Underwriter / Banker to the Issue / Debenture Trustee / Credit Rating Agency including supervision, solicitation, conduct of business, that is a Proprietor / Sole Proprietor / Partner / Managing Partner / Chairman / Director / Executive Director / Whole-Time Director / Chief Executive Officer and performs the functions of a Compliance Officer, can be classified under the Principal Category.

**Grandfather: Any associated person, other than Principal, who has completed the age of 50 years as on March 11, 2013 or who has been associated for 10 years or more with a SEI registered Broker / Depository Participant / Merchant Banker / Underwriter / Banker to the Issue / Debenture Trustee / Credit Rating Agency as a Compliance Officer, as on March 11, 2013, can be classified under the Grandfather Category.

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