Sebi proposes wider certification framework for market professionals

Sebi proposes major revamp of its certification framework, widening eligibility, introducing long-term NISM courses, and tightening exemptions to curb misuse

The Securities and Exchange Board of India (Sebi) has proposed a major overhaul of its certification framework for market participants, seeking to broaden the scope of who qualifies as an “associated person”, introduce new modes of certification through long-term courses, and tighten exemption norms that have reportedly been misused.

 

In a consultation paper released on Thursday, the capital market regulator suggested amendments to the SEBI (Certification of Associated Persons in the Securities Markets) Regulations, 2007 — commonly known as the CAPSM Regulations — which govern certification requirements for individuals working with regulated entities in the securities market.

 

Sebi has proposed