The portfolio managers will ensure that that all such associated persons who are distributors of the Portfolio Management Services as of the date of this notification obtain the certification by passing the Portfolio Management Services (PMS) Distributors Certification Examination within two years from the date of the notification.

The recent SEBI notification said that portfolio manager, who engages or employs any such associated person who is a distributor of the Portfolio Management Services, after the date of the notification, shall ensure that such person obtains certification by passing the Portfolio Management Services (PMS) Distributors Certification Examination within one year from the date of their employment.

Another notification said that the associated persons functioning as the principal officer of a Portfolio Manager or employees of the Portfolio Manager having decision making authority related to funding management shall obtain certification from the National Institute of Securities Markets bypassing the "NISM-Series-XXI-B: Portfolio Managers Certification Examination".

Visit news.dtnext.in to explore our interactive epaper!