SECURITIES AND EXCHANGE BOARD OF INDIA
Mumbai, the 21st November, 2019
Notification under Securities and Exchange Board of India
(Certification of Associated Persons in the Securities Markets) Regulations, 2007.
SEBI/LAD-NRO/GN/2019/41.—In terms of Regulation 3 of the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007, the Board hereby issues the following notification:
1. The associated persons functioning as approved users and sales personnel of the trading members registered as such in the commodity derivatives segment of a recognized stock exchange shall obtain certification from the National Institute of Securities Market by passing the NISM-Series-XVI: Commodity Derivatives Certification Examination as mentioned in the communiqué No. NISM/Certification/Series-XVI: Commodity Derivatives/2019/01 dated October 11, 2019 issued by the National Institute of Securities Market.
2. The trading members shall ensure that all such associated persons who are approved users or sales personnel as on the date of this notification obtain the certification by passing the Commodity Derivatives Certification Examination within two years from the date of this notification:
Provided that a trading member, who engages or employs any such associated person who is an approved user or sales personnel, after the date of this notification, shall ensure that such person obtains certification by passing the Commodity Derivatives Certification Examination within one year from the date of their employment.
Provided further that an associated person, who being an approved user or sales personnel, has obtained any of the following certifications as on the date of this notification,-
a) MCCP Certification (MCX Certified Commodity Professional)
b) NCDEX Institute of Commodity Markets and Research (NICR) – Commodity Trader Certification Course
c) NSE’s Certification in Financial Markets (NCFM) – Commodity Market Module
shall be exempted from the requirement of obtaining certification by passing the Commodity Derivatives Certification Examination till the validity of the said certification.
3. This notification shall come into force on the date of its publication in the Official Gazette.
AJAY TYAGI, Chairman