SEBI Extends Certification Deadline for AIF Managers
According to Regulation 4(g)(i) of the SEBI (Alternative Investment Funds) Regulations, 2012, the key investment team of an AIF Manager is required to include at least one key personnel who holds a relevant certification as prescribed by SEBI. ‘NISM Series-XIX-C: Alternative Investment Fund Managers Certification Examination’ was specified by the Securities and Exchange Board of India as the relevant certification.
Existing AIF schemes and schemes whose applications were pending with SEBI as of May 10, 2024, were required to comply with the certification requirement by May 9, 2025 vide SEBI circular dated May 13, 2024.
Based on industry representation, SEBI has decided to extend the timeline for obtaining the required NISM certification from May 9, 2025, to July 31, 2025.
Conclusion
AIF managers should use this extended period to ensure that at least one key personnel from their investment team obtains the required NISM Series-XIX-C certification. However, AIF managers should note that this is likely the final extension.
Published On:
- July 23, 2025
Contributors:
- Dhruv Chatterjee
- Prachi Yadav
- Ridima Gupta