Securities and Exchange Board of India (Sebi) mandates NISM certification for Alternative Investment Funds (AIF) compliance officers from 2027.

Exam-focused facts from the 3 January 2026 current affairs briefing.

Key facts

Sebi requires the Compliance Officer of Manager of an AIF to obtain certification from the National Institute of Securities Market by passing the NISM Series-III-C: Securities Intermediaries Compliance (Fund) Certification Examination.
From January 1, 2027, only certified persons can be appointed or continue as compliance officers of managers of AIFs.
Trustee/sponsor/managers of AIFs must reflect compliance with this requirement in the 'Compliance Test Report' prepared by the manager.