Sebi introduces a simpler NISM certification for research services

Why in news

Sebi introduced a new NISM Series-XXV-A certification to simplify compliance for non-core research staff while maintaining oversight.

Background

The Securities and Exchange Board of India (Sebi) launched the NISM Series-XXV-A certification for employees in Persons Associated with Research Services (PARS) handling client-facing roles. This new module replaces the existing NISM Series-XV for sales and non-core support functions.

Facts for Prelims

• BodySebi: The primary regulator for the securities and capital markets in India
• FactNISM Series-XXV-A: New certification for non-core research services
• FactNISM Series-XV: The previous certification being replaced for non-core staff
• FactPARS: Persons Associated with Research Services

For Mains

Q. Discuss how regulatory simplification for non-core financial services can enhance market participation while ensuring investor protection.

Dimensions to cover in your answer

• Regulatory arbitrage: Balancing ease of doing business with the risk of misinformation in non-core research roles
• Compliance burden: Reducing administrative hurdles for support staff to improve operational efficiency in capital markets

Keywords: Regulatory oversight · Compliance burden · Capital markets · Investor protection · Market integrity

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