Roop's Law Assist
Waitlist

THE GAZETTE OF INDIA

ad81757dea13b270009fecd94d5e9817c7ca0ed3 · 1992 · State unknown

Download PDFParent ActBack 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

Rule TOC

1 · Substituted for "foreign institutional investor" by the SEBI (Foreign Portfolio Investors) Regulations, 2014, w.e.f. 7 -1 -2014.
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:
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 (f) 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 or as may be delegated by the Board.
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.