New Delhi. The country’s market regulator Securities and Exchange Board of India (SEBI) has made it mandatory for employees associated with portfolio managers to take certificates. According to the notification of SEBI, the certification of all the people associated with the portfolio manager, whether they are distributors or employees, will be necessary.
According to two separate notifications issued by SEBI on 7 September, these people will be required to take a certificate from the National Institute of Securities Market (NISM). The market regulator said those working as distributors for portfolio managers and those working as key officers or employees for them would need to obtain a certificate from NISM after passing the examination.
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NISM certificate to be obtained within two years
Portfolio Managers will have to ensure that the persons associated with them who are working as Distributors for Portfolio Management Services (PMS) or Key Officers who have decision-making powers on fund management, have two years by September 7, 2021. Earn a certificate within
After 7 September, people associated with PMS will have to get the certificate within two years.
SEBI said that if a person has been hired by the portfolio manager after September 7, 2021, then he will have to obtain the certificate within one year from the date of joining this work. However, individuals who are distributors of Portfolio Management Services and have AMFI Registration Number (ARN) or NISM certificate will not be required to obtain such a certificate.
In March this year, SEBI had issued new rules regarding portfolio managers and their qualifications.
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