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of <h1>SEBI Mandates NISM Certification for Research Analysts Under Regulation 3; Notification Rescinded Effective March 2025.</h1> The Securities and Exchange Board of India (SEBI) issued a notification on March 24, 2015, under regulation 3 of the SEBI (Certification of Associated Persons in the Securities Markets) Regulations, 2007. It mandates that individuals wishing to act as research analysts under the SEBI (Research Analysts) Regulations, 2014, must obtain certification from the National Institute of Securities Markets (NISM) by passing the 'NISM-Series-XV: Research Analyst Certification Examination.' Alternatively, they may acquire other board-recognized certifications. This notification was later rescinded effective March 1, 2025.
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