(1) NISM would perform the functions delegated to it under these regulations or as may be delegated by the Board.
(2) Without prejudice to the generality of the foregoing provisions and the activities of NISM under its articles, the functions of NISM in respect of certification for associated persons in the securities market shall include putting in place and implementing the certification process, procedure and policies.
(3) NISM in consultation with the Board may lay down standards which may –
(a) specify that all or any portion of such standards shall be applicable to all or any category of associated persons working or associated with all or any class of intermediaries in securities market;
(b) specify that no associated person in any such class may be qualified to be employed or engaged or continued to be employed or engaged by an intermediary unless he is in compliance with such standards of examination, continuing professional education requirements and such other qualifications as NISM in consultation with the Board may specify.
Conduct of certification examination and programmes of continuing professional education
8. For conducting certification examination and programme of continuing professional education, NISM may:
(1) accredit, approve or engage any organization or self regulatory organization to administer certification examinations.
(2) accredit, approve or engage any organization or self regulatory organization to conduct all or any programme of continuing professional education as may be specified from time to time.
(3) require all associated persons appearing for certification examinations or undergoing programme of continuing professional education to pay reasonable fees or charges to defray the costs incurred in conducting such certification examinations and programmes of continuing professional education.
CHAPTER IV CONTINUING PROFESSIONAL EDUCATION REQUIREMENTS Continuing Professional Education requirements for associated persons