Associated Person not belonging to either the Principal or the Grandfather Category, whose Certificate has expired, will have to pass the NISM-Series-VI: Depository Operations Certification Examination to obtain a new Certificate
Background
In exercise of the powers conferred by Sub-regulation (1) of Regulation (9) of the SEBI (Certification of Associated Persons in the Securities Markets) Regulations 2007, NISM specifies the CPE Program for ‘NISM-Series-VI: Depository Operations Certification Examination’, for the purpose of revalidation of the Certificate. (Refer SEBI Notification F. No. LAD-NRO/GN/2010-11/26/10252 dated March 29, 2011)
National Institute of Securities Markets (NISM) performs two functions delegated to it under the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) SEBI (CAPSM) Regulations, 2007. They are: