THE GAZETTE OF INDIA

regulations · 1992 · State unknown

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Parent: THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 (7c4c1f5343adab106c3a94cafc08a5ecf5957ae7)

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THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai; the 17th October; 2007 SECURITIES AND EXCHANGE BOARD OF INDIA (CERTIFICA TION OF ASSOCIA TED PERSONS IN THE SECURITIES MARKETS) REGULATIONS, 2007 F. No. IL/LCIGN/2007/4567. In exercise of the powers conferred by section 30 read with sections 11, 12 and 19 of the Securities and Exchange Board of India Act; 1992 (15 of 1992), the Board hereby makes the following regulations, namely: - CHAPTER I PRELIMINARY Short Title and Commencement: 1. (1) These regulations may be called the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007 . (2) They shall come into force on the date of their publication in the Official Gazette. Definitions: 2. (1) In these regulations, unless the context otherwise requires: (a) ~Act" means the Securities and Exchange Board of India Act; 1992 (15 of 1992); b) agent" means any person who is engaged in the activity of sale or distribution of securities on behalf of an issuer or a distributor for a commission or any other consideration; cassociated person" means a principal Or employee of an intermediary O an agent or distributor OT other natural person engaged in the securities business and includes an employee of a '[foreign portfolio investor] Or & foreign venture capital investor working in India; (d) "Board" means the Securities and Exchange Board of India established under section 3 of the Act; (e) "certificate" means the certificate granted by NISM in accordance with these regulations; ~"Continuing Professional Education" (CPE) means any course, programme, training programme, activity, conference, seminar that has been accredited Or approved b

Rule TOC

1 · (1) These regulations may be called the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007 .

2 · (1) In these regulations, unless the context otherwise requires:

3 · (1) The Board may by notification in the Official Gazette require such categories of associated persons to obtain requisite certificate for engagement or employment with such classes of intermediaries and from such date as may be specified in the notification:

4 · (1) Subject to the provisions of this regulation, an associated person may obtain the certificate in any of the following manners, namely: (a) by passing a certification examination conducted by any organization or self regulatory organization approved O engaged as may be specified by NISM from time to time; or

5 · (1) The certificate granted under regulation 3 shall be valid for a period of three years from the date of the grant of the certificate or revalidation thereof as the case may be.

6 · No associated person engaged in any of the activities mentioned in clauses (a) to of sub regulation (4) of regulation 3 shall continue to be so engaged after the date specified in sub regulation (1) or sub regulation (2) of regulation 3, as the case may be, unless such associated person holds a valid certificate.

7 · (1) NISM would perform the functions delegated to it under these regulations O as may be delegated by the Board.

8 · For conducting certification examination and programme of continuing professional education, NISM may:

11 · Compliance with the provisions of these regulations shall be one of the factors to be taken into consideration by the Board for the purpose of determining eligibility criteria for grant Or renewal of certificate of registration to an intermediary under the relevant regulations