SEBI changes CAPSM rules, eases certification requirements

New business data points to the fact that The Securities and Exchange Board of India (SEBI) has relaxed the trimmed-off date for age- and experience-based exemptions under its certification framework for securities market professionals and introduced alternative routes for obtaining certification.

The SEBI Board on Thursday approved amendments to the SEBI (Certification of Associated Persons in the Securities Markets) Regulations, 2007, or CAPSM Regulations, aimed at improving regulatory clarity, easing compliance and providing greater flexibility to market professionals.

Under the amended CAPSM Regulations, the trimmed-off for determining eligibility for age- and experience-based exemptions will move from the date of notification to the date on which an individual appears for the examination or obtains Continuing Professional Education (CPE).

SEBI has additionally introduced courses and programmes whose completion will be considered as the grant of certification, providing an alternative to the existing certification route.

As part of the changes, the CAPSM Regulations will be renamed the SEBI (Certification of Specified Persons in the Securities Markets) Regulations, 2007.

The amendments were approved after SEBI conducted a public consultation and considered the feedback received on the proposals.