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SEBI by way of Circular No. HO/19/(8)2025-AFD POD1/I/1266/2025 dated 30.12.2025 ("AIF Circular")1, has introduced certification requirements for Compliance Officers of Managers of Alternative Investment Funds ("AIFs").
SEBI has mandated that Compliance Officer of a Manager of an AIF must obtain certification from the National Institute of Securities Markets ("NISM") by passing the NISM Series-III-C: Securities Intermediaries Compliance (Fund) Certification Examination. With effect from 01.01.2027, only persons who have obtained this certification shall be appointed as or continue to act as, Compliance Officers of Managers of AIFs. Further, the trustee/ sponsor/ manager of an AIF, as applicable, is required to ensure that the Compliance Test Report prepared by the manager includes confirmation of compliance with the provisions of the AIF Circular. The AIF Circular comes into force with immediate effect, i.e. 30.12.2025.
Footnote
1 Certification requirement for Compliance Officers of Managers of AIFs.
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