NISM CPE Training
Whom do I contact to register for a NISM CPE Program?
Who is eligible to take NISM CPE?
The following persons are eligible to take NISM CPE:
Anyone engaged in the business of selling/distributing Mutual fund products (including distributors, agents, brokers, sub-brokers or called by any other name), has obtained the Certificate for AMFI Mutual Fund (Advisors) Module (till 31.05.2010) offered by AMFI or the NISM-Series-V-A: Mutual Fund Distributors Certification Examination (from 01.06.2010), has attended Refresher course by IICM or CIEL (till 31.5.2010) or NISM CPE training (from 01.06.2010), such person shall be required to undergo ‘Continuing Professional Education’(CPE), as specified by NISM within 12 months of expiry of such certificate.
Example: Training date is 22nd October 2012. Candidates whose NISM / AMFI certificate expires between 22nd Oct 2012 – 22nd Oct 2013 are eligible.Candidates whose certificates expire before 22nd Oct 2012 and after 22nd Oct 2013 are not eligible.
A grandfathered person by age (50 years and above as on 31.05.2010) or a 10 year experienced candidate (experience as on 31.5.2010) can take NISM CPE to obtain certificate for the first time.
Who is a grandfathered person?
A person other than a Principal, who has attained 50 years of age on or before 31 May 2010.
If a grandfathered person holds a valid NISM/AMFI certificate, he will be considered as a normal candidate referred above seeking renewal of certificate.
If a grandfathered person’s ARN/AMFI certificate has expired, he will be able to attend CPE and apply for ARN card subject to the rules and guidelines of AMFI.
A grandfathered candidate who does not have an ARN card, can attend the CPE and apply for an ARN subject to the rules and guidelines of AMFI.
Who is a 10 years experienced candidate?
A candidate who is not a Senior citizen, but has more than 10yrs of experience is selling and distribution of mutual funds as on 31st May 2010. Such candidates need to provide PAN Card and 10 year experience letter signed by an authorised signatory on the letter head of any AMC, Mutual Fund or RTA of a mutual fund registered with SEBI.
A 10 years experienced candidate who does not have an ARN card, can attend the CPE and apply for an ARN subject to the rules and guidelines of AMFI.
How will the eligibility be determined if it is a 2nd or 3rd renewal of certificate?
Candidates for whom it is a 2nd or 3rd renewal will have an ARN and a refresher course certificate. This certificate will only have an issue date. The ARN will have a validity date.
Example: Training date 29th October 2012.
Candidate holds an ARN card valid upto December 2013 and has an IICM/ CIEL certificate dated March 2007. Thus, he is eligible and NISM will consider his ARN expiry date.
Candidate holds an ARN card valid upto 11 October 2013 and has IICM/ CIEL certificate dated December 2008. Candidate is eligible for the training.
Candidate holds an ARN card valid upto February 2013 and has an IICM/CIEL certificate dated February 2007. Candidate is eligible.
Note: Please ensure that the ARN validity date lies within 12months from the date of training, and has not already expired. Both ARN Card and Refresher course certificate need to be submitted by candidate in the above case. If any of the mentioned documents is missing, NISM may not issue CPE certificate until it is provided.
How will eligibility be determined if the candidate is an employee of a distributor?
In case a candidate is an employee, there will be no ARN. In such a case, 5 years shall be calculated from the date of issue of the IICM/CIEL refresher course certificate. This will be the validity date.
Example: Candidate is an HDFC MF employee. He has an IICM certificate dated December 2008. Thus, the validity date of his certificate would be December 2013.
What is the CPE program format?
A candidate with a valid NISM/ AMFI certificate is required to complete a one day NISM CPE Programme within a period of 12 months preceding the date of the expiry of the said certificate.
My license expired on June 1, 2011. Can I take the CPE to renew the same?
Since your certificate has already expired, ARN validity will be considered.If your ARN is valid, you can take the CPE training.
What will the CPE training feature or cover?
Effective June 15, 2013, NISM has developed a 1 day CPE program which covers a recap of mutual fund concepts, along with an insight into new mutual fund products, regulatory developments and understanding fund fact sheets.
Can I register myself for CPE on the web and how?
The training calendar on the CIEL website displays month wise programs. Each Program carries information on the details as well prerequisites. You can register by slelcting the program of your choice.
What are the fees for CPE?
Fees for NISM CPE Program will be Rs. 2000/- (Rupees Two Thousand only) per candidate/per program.
What are the Payment options for Fees for CPE?
You can make a online payment at the time of registration.
You may carry a DD for Rs.2000 payable at Mumbai in the favour of CIEL Pvt. Ltd.
Please note :-Incase if your online payment is not successful, Kindly carry a DD for Rs.2000 payable at Mumbai in the favour of CIEL Pvt. Ltd.
Will I get a refund of fees paid if i do not attend the training?
Participants into CIEL’s NISM CPE training programs should duly validate their eligibility for enrolling into the program as per NISM guidelines. In cases where a participant attends such program inspite of not being eligible, no refund will be granted. Requests for adjustments of payments made online for a particular product/program/service against another product/program/service will be granted solely at the discretion of CIEL management.
What are the documents needed from the distributor to register and attend CPE?
Documents to be submitted for the program:
Grandfathered persons: Attach any of the following:
Copy of proof of completion of 50 years of age on or before 31st May 2010.
Letter on letter head of SEBI registered MF/AMC/RTA for MF and signed by authorised signatory certifying that the candidate has 10 years of relevant work experience in sale and/or distribution of mutual fund products as on 31st May, 2010.
Copy of NISM certificate for specific module
Copy of ARN card
The following to be enclosed as per sequence:
Two photographs (please write your name and PAN no on the back side of the photograph)
Copy of Pervious certificate of NISM or AMFI (carry original for verification)
Copy of PAN card (carry original for verification)
Fees – Demand Draft favouring CIEL Pvt.Ltd. payable in Mumbai, in case your online payment is not complete.
Copy of Age proof (applicable for grandfathered category)
Copy of Experience certificate (applicable for grandfathered category)
Copy of ARN Card
Any other document as may be specified by NISM.
What if any document is not available?
The candidate will not be able to attend the CPE. All documents as listed above are required to register for the course.
What is the timing of the course?
9:00 to 10:00 am – Registration
10.00 am to 4.30 pm – CPE training
Do the candidates have to take an exam after the CPE?
No, the candidates do not have to take any exam. At the end of the CPE program, candidates will be required to take an evaluation test of 30 minutes.
When will the candidates receive their CPE certificate?
NISM will be issuing the certificates, after verifying all the documents. They are authorized to approve/reject any application. They will send the certificate to your registered address within 20 -25 working days of attending the CPE.
Whom should one contact for non-receipt of CPE certificate?
For any clarifications post CPE, you could call on (022) 6111 5555 between 9.30 am and 5.30 pm or email to firstname.lastname@example.org for any queries.
How can I renew my ARN card or AMFI/NISM exam certificate which is due to expire in October 2014?
You can either take the NISM MFD examination or attend the NISM MFD-CPE.
I hold a NISM exam certificate whose validity will lapse on July 31, 2013 and have not undergone CPE program. Which format of CPE will i have to take?
Effective June 16, 2013, you will have to take the revised CPE format of 1 day of training as explained above.
What is the validity of the NISM MFD CPE certification?
It is valid for 3 years from the date of the CPE attended.
NISM CPE Certificate is valid for 3yrs from the date of expiry of your AMFI certificate.
If you are refresher course certificate holder, your CPE certificate validity will be 3yrs from the date of CPE training.
Will NISM renew and issue me my new ARN card?
No, AMFI has mandated CAMS to renew ARN Cards. On receipt of the CPE Certificate from NISM, the same needs to be sent to CAMS along with the old ARN Card for renewal and issuance of new ARN card. The validity of the new ARN card will be for 3 years.
Are senior citizens exempt from attending training or can someone else attend in place of a senior citizen due to health issues?
No, senior citizens are not exempted from CPE’s and neither can anyone else sit on behalf of him/her.