THE GAZETTE OF INDIA

regulations · 1992 · State unknown

Download PDF Parent Act Back to Subordinates

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

Text

THE GAZETTE OF INDIA EXTRAORDINARY PART III – – SECTION 4 PUBLISHED BY AUTHORITY SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 17 th October, 2007 SECURITIES AND EXCHANGE BOARD OF INDIA (CERTIFICATION OF ASSOCIATED PERSONS IN THE SECURITIES MARKETS) REGULATIONS, 2007 F. No. 11/LC/GN/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) 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. (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; (c) "associated person" means a principal or employee of an intermediary or an agent or distributor or other natural person engaged in the securities business and includes an employee of a 1 [foreign portfolio investor] or a 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; (f) "Continuing Professional Education" (CPE) means any course, programme, training programme, activity, conference, seminar that has been accredited or ap

Rule TOC

1 · Substituted for "foreign institutional investor" by the SEBI (Foreign Portfolio Investors) Regulations, 2014, w.e.f. 71 -2014.

3 · 2 [(1) The Board may specify such categories of associated persons to obtain the requisite certificate for engagement or employment with such classes of intermediaries, and within such time as may be specified by the Board:

2 · Substituted by the SEBI (Certification of Associated Persons in the Securities Markets) (Amendment) Regulations, 2025 w.e.f. 15.07.2025. Prior to its substitution, sub -regulation (1) read as under,-

4 · (1) Subject to the provisions of this regulation, an associated person may obtain the certificate in any of the following manners, namely:-

3 · Omitted by the SEBI (Certification of Associated Persons in the Securities Markets) (Amendment) Regulations, 2025 w.e.f. 15.07.2025. Prior to its omission, sub -regulation (2) read as follows,-

4 · Substituted by the SEBI (Certification of Associated Persons in the Securities Markets) (Amendment) Regulations, 2025 w.e.f. 15.07.2025. for the words, symbols and numbers "p "purpose of issuing notification under sub regulations (1) and (2) shall".

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 · [6. No associated person engaged in any of the activities mentioned in clauses (a) to

5 · Substituted by the SEBI (Certification of Associated Persons in the Securities Markets) (Amendment) Regulations, 2025 w.e.f. 15.07.2025 for the words "specified in the notification issued".

6 · Substituted by the SEBI (Certification of Associated Persons in the Securities Markets) (Amendment) Regulations, 2025 w.e.f. 15.07.2025. Prior to its substitution, Regulation 6 read as under,-

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

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

9 · (1) NISM may specify the requirements for continuing professional education (CPE) for associated persons holding certificate and approve the programmes of CPE that may be conducted by entities accredited and engaged in accordance with regulation 8.

10 · (1) Each intermediary shall be responsible to ensure that its associated persons participate in a programme of continuing professional education approved by NISM under sub regulation (1) of regulation 9.

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.