SEBI's new regulations on distributor examination and certification.....

SEBI's new regulations on distributor examination and certification, issued in June, 2010. As you are aware, since June 2010, Distributors are required to obtain Certification from National Institute of Securities Market (NISM), and the AMFI Certification Examination has been discontinued. In this regards, it may be further noted as follows:

• For first time certification, candidates are required to undergo the new NISM-Series-V-A certification procedure to be NISM certified.
• Further, to renew their existing certificate, Mutual Fund Distributors must appear for the NISM Continuing Professional Education (CPE) certification (instead of the AMFI Refresher Course) within the validity period of their existing certification. This is to ensure the validity of their certification and be able to continue selling Mutual Funds.
• NISM has specified that distributors holding the valid Certificate will be eligible to appear for the NISM CPE only within six months prior to the expiry of their existing certification.

Details regarding the eligibility criteria and other information can be found at www.nism.ac.in You can also contact them at cpe@nism.ac.in