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        SEBI

        Persons selling or distributing Specialized Investment Fund...

        Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributors' eligibility temporarily.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Persons selling or distributing Specialized Investment Fund products must hold a valid NISM Series-V-D Mutual Fund-Specialized Investment Fund Distributors Certification, which also permits distribution of Mutual Fund products without a separate NISM Series V-A certification. Distributors dealing only in Mutual Fund products must continue to hold NISM Series V-A certification. The Common Derivatives Certification requirement for SIF distribution ceases after September 21, 2026. Existing SIF distributors with a valid Common Derivatives Certification obtained by that date may rely on it until expiry, provided they retain valid Series V-A certification during the transition. AMFI and AMCs must ensure distributor and agent compliance; the revised requirements apply immediately.
                                Note: It is a system-generated summary and is for quick reference only.
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