SEBI Mandates NISM Certification For AIF Compliance Officers
Markets regulator Sebi has required compliance officers of Alternative Investment Fund (AIF) managers to obtain NISM Series-III-C: Securities Intermediaries Compliance (Fund) Certification. Effective January 1, 2027, only certified individuals can be appointed or continue in the role. Trustees, sponsors, and managers must ensure compliance is reported in Compliance Test Reports.
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New Delhi, Dec 30 (PTI) Markets regulator Sebi on Tuesday mandated that compliance officers of managers of alternative investment funds must obtain a certification from the National Institute of Securities Markets (NISM).
In a circular, Sebi said, "The Compliance Officer of Manager of an AIF (Alternative Investment Fund) shall obtain certification from the National Institute of Securities Market by passing the NISM Series-III-C: Securities Intermediaries Compliance (Fund) Certification Examination." The markets watchdog proposed that with effect from January 1, 2027, only those persons who have obtained the certification will be appointed as or will continue to act as compliance officer of managers of AIFs.
Sebi also directed the trustee/sponsor/managers of AIFs to ensure that compliance with the new requirement is reflected in the 'Compliance Test Report' prepared by the manager. This circular will come into force with immediate effect, the regulator said.
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