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SEBI has mandated client facing employees of registered investment advisers commonly known as para planners to appear for a newly launched refresher course to renew their certification.
With this, the new rules will be applicable for RIAs, principal officer working with non-individual RIAs and client facing employees like para planners.
So far, these employees were required to appear for NISM Series X-A and X-B exam again to renew their certification.
With the new regulations, these employees can appear for NISM-Series-X-C: Investment Adviser Certification (Renewal) Examination.
This exam material will consist of 3-hour training videos on NISM portal. Post watching the video, candidates can appear for 1-hour examination having 50 multiple choice questions each carrying one mark. While there will be no negative marking, the passing mark to clear this exam is 50% or 25 marks.
