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

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Full Text of the Document

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....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.....