SEBI tweaksNISM certification requirement for AIF investment manager.

Banking & Finance

The Sebi circular says at least one key personnel should obtain relevant certification from the National Institute of Securities Market by passing the Alternative Investment Fund Managers Certification Examination.Markets regulator Securities and Exchange Board of India (Sebi) has recently tweaked regulations, making it mandatory for at least one key personnel within the investment team of the manager of an Alternative Investment Fund (AIF) to have the relevant certification.As per a Sebi circular dated May 13, the investment team of the manager of an AIF should have at least one key personnel with relevant certification from the National Institute of Securities Market (NISM). This is an eligibility criterion for obtaining certification of registration as an AIF. The requirement needs to be complied with on or before May 9, 2025, for a) existing schemes of AIFs, schemes of AIFs, and b) schemes of AIFs whose application for launch of scheme pending with Sebi as on May 10, 2024.


      Sebi Regulation Amendment: Sebi has made it mandatory for at least one key personnel within the investment team of an Alternative Investment Fund (AIF) manager to obtain relevant certification from the National Institute of Securities Market (NISM).

      Circular Details: The circular, dated May 13, specifies that this certification is an eligibility criterion for AIF registration and must be fulfilled by May 9, 2025, for existing and pending schemes.

      Enhanced Eligibility Requirement: This amendment aims to enhance professionalism and expertise within AIF management teams, ensuring better compliance and competence in the alternative investment space.

 

     


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