SEBI has recently amended the regulation for qualification requirements for Investment Advisers (RIAs), Research Analysts (RAs) and Portfolio Managers (PMS).
However, this has led to a lot of confusion among the RIAs, RAs and PMS.
NISM has introduced its Post Graduate Program (PGP) in Securities Market. This Program is recognized under SEBI ( Portfolio Managers) Regulations, 2020, SEBI (Investment Advisers) Regulations, 2013 and SEBI (Research Analysts) Regulations, 2014 as eligible qualification for Portfolio Managers, Investment Advisers and Research Analysts respectively.
In other words, SEBI amendment says that the NISM Post Graduate Program in Securities Market qualifies for fulfillment of qualification requirement for RIAs, RAs and PMS.
Please note that this is not an additional qualification requirement by SEBI.
So, if you are a B.Com graduate and planning to apply to SEBI as an Investment Adviser, you can enroll for NISM PGP in Securities Market. The said PGP will help you fulfill the qualification requirement of post graduation. But if you are already, say a PG in Finance, you are not required to complete the NISM PGP in Securities Market.
The advantage of this PGP is that it is a 15-month weekend Program.
Click here to read the FAQs by NISM on the PGP.
Here is the summary of the qualification requirements for RIAs, RAs and PMS:
Just to reiterate, the NISM PGP in Securities Market helps in fulfilling the qualification requirements of post-graduation for RIAs, RAs and PMS.
If you have any queries, you can write to me at kruti@cskruti.com.
Is Indian CMA with 5 years Exp Eligible for RIA and Registered PMS?
If the Indian CMA is considered a professional qualification or post-graduate degree or post graduate diploma (minimum two years in duration) from a university or an institution recognized by the Central Government or any State Government, then it will be considered by SEBI.
Will require more details about the experience. Please send an email to kruti@cskruti.com
Hi, I am MBA (HR) can i apply RIA ,After Experience MFD 5Yrs with NISM PGP Completion.
Hi. NISM PGP course, 5 years of MFD business experience and NISM XA and XB series certification will help you fulfill the current qualification and certification requirements.
Hi, Can you tell me whether the Financial Risk Manager (FRM) certification meets SEBI’s eligibility criteria for Research Analyst (RA)? It is similar to the CFA and CMT and is issued by a globally accredited organization.
Hi. In my view, SEBI does not allow foreign qualifications. Best is to confirm with SEBI’s regional office near you.
What can existing IAs do to meet the experience requirements ?
Existing RIAs have 3 years time to fulfill the experience requirements. Even the experience in dealing with clients during the validity of registration is counted.
Can a B.A. pass apply for Research Analyst by passing above said exam? If yes, than I am interested. It is distance learning course, or need to attend in personal at Mumbai or any other place?
Yes, can apply. The details are given on NISM website.