Sebi Eases Certification for Non-Research Market Personnel

The Securities and Exchange Board of India (Sebi) has relaxed certification norms for Persons Associated with Research Services (PARS), allowing non-research personnel to qualify through a lighter certification module. This move aims to ease compliance and is based on feedback from market participants to streamline business operations.

The Securities and Exchange Board of India (Sebi) has announced a significant relaxation in certification norms for Persons Associated with Research Services (PARS), particularly benefiting non-research personnel such as sales staff and relationship managers. This development allows these individuals to qualify through a simplified certification module.

According to Sebi's circular, this strategic move aims to reduce compliance burdens as part of broader efforts to facilitate business operations. The immediate effect of this initiative reflects the regulator's responsiveness to market participants' feedback, focusing on personnel not directly involved in research activities.

PARS involved in sales and other non-core services will now need to obtain certification through the 'NISM Series-XXV-A' module. However, those who have already achieved the NISM Series-XV certification are exempt from immediate recertification, unless their current certification expires.