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NISM extends validity of certificates affected due to Coronavirus. National Institute of Securities Market (NISM) has extended the validity of NISM Certifications for a period of 3 months due to the nationwide lockdown announced because of Coronavirus pandemic. "NISM Certifications which are expiring during the period, March 15, 2020 to June 29, 2020 have been extended till June 30, 2020", said SEBI in a press release.
SEBI invites applications for the post of Director, NISM
Well, strictly as per SEBI Regulations, the NISM Series VA : Mutual Fund Distributors Certification Examination is the only mandatory examination for professionals performing the sales function related to mutual funds.
However, in the absence of any other examination covering the Indian Mutual Funds in such a minute detail, the industry has more or less accepted the benchmark set by NISM. Today, all employers in this industry demands the NISM Series VA MFD Certification for all job profiles related to mutual fund (and not just professionals involved in sales).
NCFE opens up contest for designing new logo and tagline for the organization. The National Centre for Financial Education, which is now a Section 8 (Not for Profit) Company incorporated in September 2018 has called for ideas from the general public for a new logo and tagline.
NISM signs MoU with Kerala's Saintgits Institute for investor awareness programmes
Kerala-based Saintgits Institute of Management and the National Institute of Securities Markets, the educational institute established by SEBI, have signed an MoU to offer joint programmes, workshops, investor awareness programmes and other capacity building initiatives in securities/capital markets.
Electronic book mechanism for issuance of securities on private placement basis
With a view to further rationalise and ease the process of issuance of securities on 'Electronic Book Provider (EBP)' platform for private placement of securities, it has been decided to provide the following additional facilities on the EBP platform:
Streamlining the process of public issuance of debt securities
In order to make the existing process of issuance of debt securities (non-convertible preference shares and securitised debt Instruments) easier, simpler and cost effective for both issuers and investors, SEBI has decided to reduce the time taken for listing of such securities to 6 working days from 12 working days. Accordingly, SEBI has specified some aspects related to the process of public issuance of debt securities.
Change in investment guidelines for NPS schemes w.r.t. investment in equity mutual funds by pension funds
PFRDA has changed the investment guidelines for NPS schemes with respect to investment in equity mutual funds by pension funds. This article talks about various changes brought out by PFRDA today.
Know Your Client Requirements for Foreign Portfolio Investors
SEBI had issued a circular (dated April 10, 2018) to strengthen the 'Know your Client' (KYC) framework for Foreign Portfolio Investors (FPIs) in accordance with Prevention of Money-Laundering (Maintenance of Records) Rules, 2005. Accordingly, existing FPIs were provided a time frame of six months from April 10, 2018 to comply with the KYC requirements listed in the circular.
The Indian Mutual Funds Industry is undergoing a rapid change with the Capital Market Regulator, SEBI as well as Government of India bringing in major changes to the markets. NISM has also subsequently announced revision of its NISM Series VA - Mutual Fund Distributors Certification Examination with effect from August 14, 2018 factoring all the recent changes in the industry.
Our team at PrepCafe has closely studied these changes and enumerated in detail as part of this blog post. We hope industry participants as well as exam takers will benefit from this article. Please do share your feedback in the comments section below.
NISM Certificate Uses / Benefits:
Following are few benefits of NISM Certificate that I could gather working in the securities markets:
It is time Indian investors started differentiating between savings and investments. Money kept in banks could be safe, secure and liquid; but one needs to invest in markets to earn returns.
According to Sandip Ghose, Director of National Institute of Securities Markets (NISM), saving has got into the DNA of Indian investors; but it is not an investment at all.
Criticising a section of people who consider putting money into bank fixed deposits (FDs) or other such instruments as 'sound investment', he said, banks were not set up with the purpose of growing money.
"The process is completely paperless and
by AMFI
based on Aadhaar ! Of course, you must have a Aadhaar number and your mobile number must be registered / linkedwith your Aadhaar to avail of this online facility."
In order to expedite the ARN registration and renewal process, AMFI has introduced an online ARN registration and renewal facility for distributors, said an email AMFI sent to distributors.
"Pursuant to the Government's vision of Digital India, Association of Mutual Funds in India (AMFI) is happy to announce the launch of Online ARN Registration and Renewal process of AMFI Registration", AMFI said.
"The process is completely paperless and based on Aadhaar ! Of course, you must have a Aadhaar number and your mobile number must be registered / linkedwith your Aadhaar to avail of this online facility."
Distributors need to furnish Aadhaar cards to register and renew their ARN number.
National Institute of Securities Market (NISM) today issued a press release mentioning that Aadhar Card Number as well as Aadhar Card Scanned Image will be mandatory for registering on its Online Certification Portal. So far, Permanent Account Number (PAN Card) was the only mandatory document required for registering for NISM Certification Examinations and Continuing Professional Education (CPE) Programmes.
The following is my opinion after following NSE, BSE, NISM and Indian Stock Markets since past many years and also after undertaking various NISM, NCFM, BCFM exams. Before coming to any conclusion, let me provide you a short history about both NCFM and NISM.
The National Centre for Financial Education (NCFE) has today declared the results of its national level financial literacy tests, namely, NFLAT and NFLAT Junior. The NFLAT exams were conducted during the period November 25, 2016 to January 07, 2017. NFLAT and NFLAT Junior 2016-17 were conducted in both online and offline mode, across more than 1800 schools in India and more than 2,37,000 students participated in the online test. The qualifying schools for the 2nd Round of the competition of NCFE-NFLAT 2016-17 were declared today. The results consists of Top 10 Schools from each zone, Individual Regional Students Winners for NFLAT and NFLAT Junior.
NISM Mock Tests are nothing but practice exams that people take before appearing for the final exam so that they can assess their level of preparation. NISM Mock Exams are usually taken by candidates who are about to appear for an important exam. From NISM Mutual Fund Distributors to NISM Investment Adviser or NISM Equity Derivatives, every NISM Exam has unique mock test of its own. These exams are extremely helpful to any candidate looking to pass these NISM certifications. But what do we stand to gain from such NISM mock tests?
Being a Mutual Fund Agent / Distributor can be a great part-time source of revenue for most people in India. With more than 40 Asset Management Companies having above 11500 schemes, constituting about 16 lakh crores of Assets Under Management (AUM), clearly only a bunch of 15000+ active distributors won’t be sufficient.
So here’s a simple guide to how to become a Mutual Fund Distributor in India:
A few months back, one of our users posted a query on our discussion forum regarding various job options available after passing the NISM Series VIII Equity Derivatives Certification. One of our fellow PrepCafe users who works as an equity derivatives trader, responded in a detailed manner. In this blog post, we thought of sharing the response for benefit of our users. Here's what Mr. Bhanu had to say:
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