NISM Series-III-A: Securities Intermediaries Compliance (Non-Fund) Certification Examination

The Securities Intermediaries Compliance examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the NISM certification examination is 60%. There shall be negative marking of 25% of the marks assigned to a question.

Examination Specifications

  • This is a computer-based examination with multiple choice questions.
  • The examination consists of 100 questions of 1 mark each adding to 100 marks.
  • The examination should be completed in 2 hours.
  • There shall be negative marking of 25% of the marks assigned to the question for each wrong answer.
  • The passing score for the examination is 60 marks.
  • Exam fee Rs. 1500/- + Payment gateway charges extra.
  • Passing Certificate will be issued only to those candidates who have furnished/ updated their Income Tax Permanent Account Number (PAN) in their registration details.
  • Link for NISM 3A - SIC Exam Schedule

Where can I get Securities Intermediaries Compliance (Non-Fund) Study Material ?

Click here for Securities Intermediaries Compliance (Non-Fund) Short Notes

Syllabus Outline with Weights

Unit No. Unit Name Weightages%
Part A: Understanding the Financial and Regulatory Structure in India (60 marks)
Unit 1 Introduction to Financial System 5%
Unit 2 Regulatory Framework: General View 10%
Unit 3 Introduction to Compliance 4%
Unit 4 SEBI Act, 1992 7%
Unit 5 Securities Contracts (Regulation) Act, 1956 and Securities Contracts (Regulation) Rules, 1957 6%
Unit 6 SEBI (Intermediaries) Regulations, 2008 6%
Unit 7 SEBI (Prohibition of Insider Trading) Regulations, 1992 6%
Unit 8 SEBI (Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 2003 6%
Unit 9 The Prevention of Money Laundering Act, 2002 7%
Unit 10 SEBI (KYC Registration Agency) Regulations, 2011 3%
Part B: Understanding Intermediary Specific Regulations (40 marks)
Unit 11 SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 8%
Unit 12 SEBI (Merchant Bankers) Regulations, 1992, Listing Agreement & SEBI (Delisting of Securities) Guidelines, 2003, SEBI Takeover Code & SEBI (Buyback of Securities) Regulations, 2006 6%
Unit 13 SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 5%
Unit 14 Depositories Act, 1996 3%
Unit 15 SEBI (Depositories and Participants) Regulations, 1996 3%
Unit 16 SEBI (Bankers to an Issue) Regulations, 1994 3%
Unit 17 SEBI (Underwriters) Regulations, 1993 3%
Unit 18 SEBI (Debenture Trustees) Regulations, 1993 3%
Unit 19 SEBI (Credit Rating Agencies) Regulations, 1999 3%
Unit 20 SEBI (Custodian of Securities) Regulations, 1996 3%

Syllabus

Part A – Understanding the Financial and Regulatory Structure in India

1. Introduction to the Financial System

2. Understand the following Rules of the SC(R)R 1957

3. Understand the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations 2012

SEBI (Intermediaries) Regulations, 1992

Part B - Understanding Intermediary Specific Regulations

1. SEBI (Stock Brokers and Sub-brokers) Regulations, 1992, Listing Agreement and SEBI (Delisting of Securities) Guidelines, 2003. Understand the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992, w.r.t to the following:

2. Understand the SEBI (Alternate Investment Funds) Regulation, 2012 w.r.t

SEBI (Merchant Bankers) Regulations, 1992, SEBI (Delisting of Equity Shares) Regulations, 2009, SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 and SEBI Takeover Code and SEBI (BuyBack of Securities) Regulations, 2018

Introduction of the SEBI (Merchant Bankers) Regulations, 1992. Understand the SEBI (Merchant Bankers) Regulations, 1992 w.r.t.

3. Understand the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.

4. Know the SEBI (Delisting of Equity Shares) Regulations, 2009.

5. Understand the obligations of the Intermediary under the SEBI (Buyback of Securities) Regulations, 2018

4. Know Code of conduct of the Credit Rating Agencies.

5. List out the Guidelines issued by SEBI for Credit Rating Agencies.

SEBI (Custodian of Securities) Regulations, 1996

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