SEBI Mandates NISM Certification For AIF Compliance Officers

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NISM Certification For AIF Compliance Officers

Circular no. HO/19/(8)2025-AFD-POD1/I/1266/2025; Dated: 30.12.2025

1. Introduction

The Securities and Exchange Board of India (SEBI) has introduced a mandatory certification requirement for Compliance Officers of Managers of Alternative Investment Funds (AIFs). This move aims to strengthen regulatory compliance and ensure that compliance functions within AIFs are handled by adequately qualified professionals.

2. Mandatory NISM Certification Requirement

SEBI has specified that Compliance Officers of AIF Managers must obtain certification from the National Institute of Securities Markets (NISM). The prescribed qualification is the NISM Series III-C: Securities Intermediaries Compliance (Fund) Certification Examination, which focuses on regulatory frameworks, compliance obligations, and fund-related governance standards.

3. Applicability To Existing And New Appointments

The requirement applies to individuals currently serving as Compliance Officers as well as those appointed in the future. AIF Managers are responsible for ensuring that their Compliance Officers acquire and maintain the prescribed certification within the stipulated timeline.

4. Effective Date And Compliance Timeline

SEBI has clarified that with effect from 1 January 2027, only individuals who have successfully obtained the NISM certification may be appointed as Compliance Officers of AIF Managers. This provides a transition period for existing officers to meet the certification requirement.

5. Conclusion

By mandating NISM certification for Compliance Officers of AIF Managers, SEBI seeks to enhance compliance standards and reinforce investor protection in the alternative investment space. AIF Managers should proactively plan for certification to ensure uninterrupted compliance with regulatory requirements.

Click Here To Read The Full Circular

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied