The Securities and Exchange Board of India on 16th March 2021 has notified the Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 2021 to further amend the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020.
The amendment is brought under regulation 7 which deals with consideration of application in which the board shall consider whether the principal officer of the applicant has a professional qualification in finance, law, accountancy or business management from a university or an institution recognized by the Central Government or any State Government or a foreign university or a professional qualification by completing a Post Graduate Program in the Securities Market (Portfolio Management) from NISM of a duration not less than one year or a professional qualification by obtaining a CFA charter from the CFA institute.
Further a fresh NISM certification shall be obtained before expiry of the validity of the existing certification to ensure continuity in compliance with the certification requirements.
