Sebi eases certification requirement for sales, non-core staff associated with Research Services

New Delhi, Mar 11 (PTI) In a move aimed at easing compliance requirements, market regulator Sebi on Wednesday relaxed certification norms for Persons Associated with Research Services (PARS), allowing sales personnel, relationship managers and other non-research personnel to qualify through a lighter certification module.

Since such personnel are not directly associated with or involved in research-related matters, the framework has been streamlined with immediate effect.

“Based on feedback from market participants and as a step towards ease of doing business, it has been decided to prescribe a lighter NISM certification module for PARS such as sales personnel, relationship managers and other personnel who perform sales and other non-core services, have customer contact but are not directly associated with or involved in research-related matters,” Sebi circular said. he said.

Accordingly, PARS performing sales and other non-core services will need to obtain certification from NISM by passing the ‘NISM Series-XXV-A’ certification.

Sebi said, “PARS which have already obtained NISM SeriesXV certificate as on the date of this circular will not be required to obtain NISM Series-XXV-A certificate at this stage. Such PARS will obtain NISM Series-XXV-A certificate only after the validity period of NISM Series-XV certificate expires.” he said.

PARS will continue to receive certification from NISM by passing the ‘NISM Series-XV: Research Analyst Certification Examination’, except for those who perform sales and other non-core services.