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SEBI: Principal Officer having decision making Authority related to Fund Management, to obtain Certification from National Institute of Securities Markets

1. The Market Regulator, Security, and Exchange Board of India (SEBI) on Tuesday have notified the Principal officer having decision-making authority related to fund management, to obtain certification from the National Institute of Securities Markets.

“The associated persons functioning as principal officer of a Portfolio Manager or employee(s) of the Portfolio Manager having decision making authority related to fund management, shall obtain certification from the National Institute of Securities Markets by passing the NISM-Series-XXI-B: Portfolio Managers Certification Examination as mentioned in the communiqué No. NISM/ Certification/Series-XXI-B: Portfolio Managers (PM) Certification/2021/01 dated June 15, 2021 issued by the National Institute of Securities Markets,” the notification said.

2. The Portfolio Managers shall ensure that all such associated persons who are principal officers or employees having decision-making authority related to funding management as on the date of this notification obtain the certification by passing the NISM-Series-XXI-B: Portfolio Managers Certification Examination within two years from the date of this notification.

3. Provided that a Portfolio Manager, who engages or employs any such associated person who is a principal officer or an employee having decision making authority related to funding management, after the date of this notification, shall ensure that such person obtains certification by passing the NISM-Series-XXI-B: Portfolio Managers Certification Examination within one year from the date of their employment.

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