Notification under regulation 3 of the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007 - LAD-NRO/GN/2010-11/09/6422 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 31st May, 2010 No. LAD-NRO/GN/2010-11/09/6422.- In terms of sub-regulation (1) of regulation 3 of the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007 (the Regulations), the Board is empowered to require, by notification, any category of associated persons as defined in the regulations to obtain requisite certification. Accordingly, it is notified that with effect from June 1, 2010, the following category of associated persons, i.e., distributors, agents or any persons employed or engaged or to be employed or engaged in the sale and/or distribution of mutual fund products, shall be required to have a valid certification from the National Institute of Securities Markets (NISM) by passing the certification examination as mentioned in the NISM Communique NISM/Certification/Series-V-A: MFD/2010/01 dated May 5, 2010. Provided that if the said associated person possesses a valid certificate by passing before June 1, 2010, the AMFI Mutual Fund (Advisors) Module, he shall be exempted from the requirement of the aforementioned NISM certification examination. C. B. BHAVE, Chairman [ADVT III/4/69 ZB/10-Exty.]