Qualification and certification requirement

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....tion or association or CFA Charter from the CFA Institute, and relevant certification from NISM or from any other organisation or institution accredited by NISM; or] (b) ^9[****] ^15[(c) A Post Graduate Program in the Securities Market (Investment Advisory) from NISM or a Post Graduate Program in Financial Planning from NISM or any other program of NISM as may be specified by the Board.] Provided that ^3[the] investment advisers registered under these regulations as on the date of commencement of these regulations shall ensure that the individual investment adviser or principal officer of a non-individual investment adviser registered under these regulations and persons associated with investment advice ^4[shall] ....

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....e diploma in finance, accountancy, business management, commerce, economics, capital market, banking, insurance or actuarial science from a university or an institution recognized by the central government or any state government or a recognised foreign university or institution or association; or (b) A graduate in any discipline with an experience of at least five years in activities relating to advice in financial products or securities or fund or asset or portfolio management. (2) An individual registered as an investment adviser and partners and representatives of investment advisers registered under these regulations offering investment advice shall have, at all times, a certification on financial planning or fund or ....

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.... 5. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/154 dated 09-10-2023 w.e.f. 30-09-2023 before it was read as, "such" 6. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/154 dated 09-10-2023 w.e.f. 30-09-2023 before it was read as, "three years" 7.  Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/219 dated 16-12-2024 8.  Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/219 dated 16-12-2024 9.  Omitted vide Notification No. SEBI/LAD-NRO/GN/2024/219 dated 16-12-2024 before it was read as,  "(b) An experience of at least five years in activities relating to advice in financial products or securities or fund or asset or portfolio management;" ....

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.... with certification requirements: Provided further that fresh certification before expiry of the validity of the existing certification shall not be obtained through a CPE program.]" 13.  Inserted vide F. No. SEBI/LAD-NRO/GN/2025/278 dated 25-11-2025 w.e.f. 25-11-2025 14.  Substituted vide F. No. SEBI/LAD-NRO/GN/2025/278 dated 25-11-2025 w.e.f. 25-11-2025 before it was read as,  "^2[(a) A professional qualification or ^7[graduate degree or] post-graduate degree or post graduate diploma (minimum two years in duration) in finance, accountancy, business management, commerce, economics, capital market, banking, insurance or actuarial science ^8[or other financial services as may be specified] from a ....