SEBI Eases Certification Requirement for Sales, Non-Core Staff Associated with Research Services

Sebi Relaxes Certification Norms for PARS

The Securities and Exchange Board of India (Sebi) has introduced a new framework aimed at easing compliance requirements for Persons Associated with Research Services (PARS). The new framework, effective immediately, relaxes certification norms for sales staff, relationship managers, and other non-research personnel.

Key Highlights:

• Sales staff, relationship managers, and other non-research personnel will qualify through a lighter certification module, NISM Series-XXV-A.
• This certification module is specifically designed for PARS who perform sales and other non-core services, have client contact, but are not directly associated or involved in research-related aspects.
• PARS who perform sales and other non-core services will be required to obtain certification from the National Institute of Securities Markets (NISM) by passing NISM Series-XXV-A.

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Existing Certifications:

• PARS who have already obtained NISM Series-XV certification as of the date of this circular will not be required to undertake NISM Series-XXV-A certification at this stage.
• Such PARS will obtain NISM Series-XXV-A certification only after the expiry of the validity of their NISM Series-XV certification.
• PARS, excluding those who perform sales and other non-core services, will continue to obtain certification from NISM by passing NISM Series-XV: Research Analyst Certification Examination.