Date: 2014-01-20Category: Extra OrdinaryState: Union GovernmentCountry: India
Notification under regulation 3 of the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007.
Executive Summary:
This notification from the Securities and Exchange Board of India (SEBI) concerns the certification of associated persons in securities markets. It extends the deadline for approved users and sales personnel of trading members in the currency derivatives segment and interest rate derivatives to obtain Series IV: IRD certification. The new deadline is two years from January 20, 2014, for those registered as of June 29, 2010. Newly employed personnel have one year from their employment date to get certified.
Key Points / Main Content:
Extension of Certification Deadline:
Approved users and sales personnel of trading members in the currency derivatives segment of a recognized stock exchange and trading in interest rate derivatives, registered as of June 29, 2010, have an extended deadline to obtain Series IV: IRD certification.
The new deadline is two years from the date of this notification (January 20, 2014).
Certification Requirement for New Employees:
Approved users and sales personnel employed after January 20, 2014, must obtain Series IV: IRD certification within one year from their employment date.
Trading Member Responsibility:
Trading members registered in the currency derivatives segment and trading in interest rate derivatives must ensure their approved users and sales personnel obtain the required certification within the specified timeframes.
Impact Analysis:
Trading Members:
Impact: Trading members operating in the currency derivatives segment and trading in interest rate derivatives must ensure their associated personnel are certified.
Action Required: Ensure all approved users and sales personnel, both existing and new, obtain Series IV: IRD certification within the stipulated timelines.
Approved Users and Sales Personnel (Registered as of June 29, 2010):
Impact: Benefit from an extended deadline to obtain the required certification.
Action Required: Obtain Series IV: IRD certification within two years from January 20, 2014.
Newly Employed Approved Users and Sales Personnel (Employed after January 20, 2014):
Impact: Must obtain certification within a specific timeframe.
Action Required: Obtain Series IV: IRD certification within one year from the date of employment.
Key Entities Referenced
Securities and Exchange Board of India: Regulatory body for the securities market in India, responsible for issuing the notification.
Mumbai, Maharashtra: City and state where the Securities and Exchange Board of India notification was issued.
Securities and Exchange Board of India Certification of Associated Persons in the Securities Markets Regulations, 2007: The title of the regulations under which the notification is issued.
SeriesIV: IRD certification: Certification required for approved users and sales personnel in the currency derivatives segment and trading in interest rate derivatives.
Currency Derivatives Segment: A segment of a recognized stock exchange for trading in currency derivatives.
Interest Rate Derivatives: Financial instruments whose value is derived from interest rates.
U. K. Sinha: Chairman of the Securities and Exchange Board of India (SEBI) at the time of the notification.
New Delhi: Location of the Government of India Press responsible for printing the gazette.
jftLVªh laö Mhö ,yö&33004@99 RREEGGDD.. NNOO.. DD.. LL..-33004/99
vlk/kj.k
EXTRAORDINARY
Hkkx III—[k.M 4
PART III—Section 4
izkf/dkj ls izdkf'kr
PUBLISHED BY AUTHORITY
la. 19] ubZ ffnnYYyyhh]] lkseokj] tuojh 20] 2014@ikS"k 30] 1935
No. 19] NNEEWW DDEELLHHII,, MONDAY, JANUARY 20, 2014/PAUSHA 30,, 11993355
भभभभााााररररततततीीीीयययय (cid:7)(cid:7)(cid:7)(cid:7)ििििततततभभभभििूूििूू तततत औऔऔऔरररर ििििववववििििननननममममयययय बबबबोोोोडडडड (cid:17)(cid:17) (cid:17)(cid:17)
अअअअििििधधधधससससचचूूचचूू ननननाााा
मममम(cid:28)(cid:28)ुु(cid:28)(cid:28)ुु बबबबईईईई,,,, 22220000 जजजजननननववववररररीीीी,,,, 2222000011114444
भभभभााााररररततततीीीीयययय (cid:7)(cid:7)(cid:7)(cid:7)ििििततततभभभभििूूििूू तततत औऔऔऔरररर ििििववववििििननननममममयययय बबबबबबबबोोोोोोोोडडडडडडडड (cid:17)(cid:17)(cid:17)(cid:17) (cid:17)(cid:17)(cid:17)(cid:17) (((((cid:7)(cid:7)(cid:7)(cid:7)ििििततततभभभभििूूििूू तततत बबबबााााजजजजाााारररर"""" मममम ## ## ससससहहहहयययय%%ुु%%ुु &&&&िििि%%%%यययय"""" ककककाााा (cid:7)(cid:7)(cid:7)(cid:7)(cid:7)(cid:7)(cid:7)(cid:7)ममममममममााााााााणणणणणणणणीीीीीीीीककककककककररररररररणणणणणणणण)))) ििििववववििििननननययययमममम,,,, 2222000000007777 ककककेेेे
ििििववववििििननननययययमममम 3333 ककककेेेे अअअअधधधधीीीीनननन अअअअििििधधधधससससचचूूचचूू ननननाााा
सससस..ंं..ंं एएएएलललल....एएएए....डडडडीीीी....----एएएएनननन....आआआआरररर....ओओओओ........////////जजजजीीीी....एएएएनननन....////2222000011113333----11114444////44441111////111111118888....————यतः तारीख 2299 जून, 2010 क8 अिधसूचना
सं. एल.ए.डी.-एन.आर.ओ./जी.एन..//22001100-11/12/10230 के माRयम से, भभााररततीीयय <<ििततभभूिूितत औऔरर ििववििननममयय बबोोडड CC नन ेे
यह िविन(cid:17)द(cid:19) (cid:20)कया था (cid:20)(cid:20)कक (cid:24)(cid:24)ाापपाा(cid:26)(cid:26)ररकक ससदद(cid:27)(cid:27)यय(cid:28)(cid:28), जो, 29 जून 2010 को, ममााNNययतताा<<ाा== (cid:27)(cid:27)टटॉॉकक एएPPससचच(cid:30)ज(cid:30)ज ककेे ममुQुQाा (cid:24)(cid:24)ु.ु.पप//ीी
खंड (कर(cid:30)सी ड(cid:26)े रवे(cid:26)ट!ज़ सेगम(cid:30)ट) ममम(cid:30) (cid:30) (cid:30) ऐऐऐसससीीी हहहिििैैै सससयययततत ससस ेेे रररिििजजज(cid:27)(cid:27)(cid:27)(((ीीीकककृृृततत हहह *** औऔऔररर ,,,यययाााजजज दददररर (cid:24)(cid:24)(cid:24)ु.ु.ु.पपपििि///ययय(cid:28)(cid:28)(cid:28) (इंटरे(cid:27)ट रेट ड(cid:26)े रवे(cid:26)ट!ज़)
म(cid:30) (cid:24)ापार ((े0डग) कर रह े ह,* के अअननुमुमोो(cid:20)(cid:20)ददतत उउपपययोो44ाा (ए<ू!ड यूज़सC) ततथथाा ििववHHयय ककााIIममकक (सेUस पसVनल) उ4
अअििधधससूचूचननाा कक88 ततााररीीखख ससे े ददोो ववषष:: ककेे भभीीततरर, उ4 अिधसूचना म(cid:30) यथा अपेिSत, Tृंखला--IV: आईआरडी <माणीकरण
अिभ<ा= कर(cid:30)गे ।
ययततःः उउ@@ोोगग AAाारराा ,,ययााजज ददरर BBययूचूचससC C (इंटरे(cid:27)ट रेट Bयूचस)C ककोो ननएए ििससररेे ससे े आआररंंभभ ककररनने े औऔरर अअििभभ(cid:24)(cid:24)44 कक88 गगययीी
क(cid:26)ठनाइय(cid:28) के मFने ज़र, इइइससस अअअिििधधधसससूचूचूचनननााा ककक888 तततााारररीीीखखख सससे े े दददोोो वववषषष::: ककक888 अअअववविििधधध तततककक ऐऐऐसससे े े अअअनननमममुुु ोोो(cid:20)(cid:20)(cid:20)दददततत उउउपपपयययोोो444ाााGGG तततथथथााा िििवववHHHययय
कककाााIIIमममककक AAAााारररााा <<<मममाााणणणीीीकककरररणणण अअअिििभभभ<<<ााा=== कककरररननने े े ककक888 अअअववविििधधध कककोोो बबबढ़ढ़ढ़ाााननने े े कककााा िििववविििनननMMMययय (cid:20)(cid:20)(cid:20)कककयययााा गगगयययााा हहह ैैै ।।।
तदनुसार, (cid:24)ापा(cid:26)रक सद(cid:27)य, जजजोोो मममाााNNNयययतततााा<<<ााा=== (cid:27)(cid:27)(cid:27)टटटॉॉॉककक एएएPPPसससचचच(cid:30)ज(cid:30)ज(cid:30)ज कककेेे मममुQुQुQााा (cid:24)(cid:24)(cid:24)ु.ु.ु.पपप///ीीी खखखंडंडंड ममम(cid:30) (cid:30) (cid:30) ऐऐऐसससीीी हहहिििैैै सससयययततत सससे े े रररिििजजज(cid:27)(cid:27)(cid:27)(((ीीीकककृृृततत हहह ***
औऔरर ,,ययााजज ददरर (cid:24)(cid:24)ु.ु.पपिि//यय(cid:28)(cid:28) मम(cid:30) (cid:30) (cid:24)(cid:24)ाापपाारर ककरर ररहहाा हह,ैै ययहह ससुिुिननििMMतत ककररेेगगाा (cid:20)(cid:20)कक इइससककेे ससभभीी अअननुमुमोो(cid:20)(cid:20)ददतत उउपपययोो44ाा ततथथाा ििववHHयय
248 GI/2014 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
काIमक इस अिधसूचना क8 तारीख स े दो वष: क8 अविध के भीतर Tृंखला-IV: आईआरडी <माणीकरण अिभ<ा=
कर(cid:30)गे ।
इसके अित(cid:26)र4, इस अिधसूचना क8 तारीख के पMात् (cid:24)ापा(cid:26)रक सद(cid:27)य Aारा िनयोिजत सभी अनुमो(cid:20)दत उपयो4ा
तथा िवHय काIमक िनयोिजत (cid:20)कये जाने क8 तारीख से एक वषC क8 अविध के भीतर Tृंखला-IV: आईआरडी
<माणीकरण अिभ<ा= कर(cid:30)गे ।
यू. के. िसNहा, अRयS
[foKkiu III@4@vlk-@69 tSM ch@13
]
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 20th January, 2014
Notification under regulation 3 of the Securities and Exchange Board of India (Certification of
Associated Persons in the Securities Markets) Regulations, 2007
No. LAD-NRO/GN/2013-14/41/118.—Whereas vide notification No. LAD/NRO/GN/2010-
11/12/10230 dated June 29, 2010, the Securities and Exchange Board of India had specified that approved
users and sales personnel of the trading members who are registered as such in the currency derivatives
segment of a recognized stock exchange and trading in interest rate derivatives, as on June 29, 2010, shall
obtain Series-IV: IRD certification, as required in the said notification, within two years from the date of the
said notification.
Whereas in view of the fresh launch of interest rate futures and difficulties expressed by the industry, it has
been decided to extend the period for obtaining certification by such approved users and sales personnel for
a period of two years from the date of this notification.
Accordingly, a trading member who is registered as such in the currency derivatives segment of a
recognized stock exchange and trading in interest rate derivatives shall ensure that all its approved users
and sales personnel shall obtain Series-IV: IRD certification within a period of two years from the date of
this notification.
Further, all approved users and sales personnel employed by the trading member after the date of this
notification shall obtain Series-IV: IRD certification within a period of one year from the date of
employment.
U. K. SINHA, Chairman
[ADVT. III/4/Exty./69 ZB/13]
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054