Sebi extends deadline of AIF managers' certification requirement to July 31

Markets regulator Sebi on Tuesday extended the deadline to July 31 for the certification requirement for Alternative Investment Fund (AIF) managers.

Under the rules, the key investment team of an AIF manager is required to have at least one member certified as specified by Sebi.

From May 10, 2024, the required certification is the NISM Series-XIX-C: AIF managers certification examination.

Earlier, Sebi allowed existing AIF schemes as of May 13, 2024, and schemes pending approval (as of May 10, 2024) until May 9, 2025, to obtain this certification.

"Based on representation received from the AIF industry, and with the objective of providing ease of compliance to the AIF industry, it has been decided to extend the said timeline from May 9, 2025, to July 31, 2025, to obtain the requisite NISM certification," according to a Sebi circular.

This extension is effective immediately, it added.