Certification Programme
NISM Series –VI
To bring uniformity in the training related to all the areas of Capital Market, SEBI has formed a centralized body viz. National Institute of Securities Markets (NISM). NISM conducts certification examination for depository operations which is called Series –VI: Depository Operations Certification Examination programme (DOCE).
It seeks to create a common minimum knowledge benchmark for associated persons engaged or employed by a registered depository participant in (a) dealing or interacting with clients, (b) dealing with securities of clients, (c) handling redressal of investor grievances, (d) internal control or risk management, (e) activities having a bearing on operational risk, or (f) maintenance of books and records pertaining to the above activities. The certification aims to enhance the quality of services as rendered by the Depository Participants.
SEBI vide its notification dated March 29, 2011 through the Gazette of India has prescribed the following :-
| SR.NO. | BCCD / CDSL / NCFM CERTIFICATION |
DOCE CERTIFICATION |
| 1 | Associated persons presently employed by a DP and not having either of BCCD / CDSL / NCFM Certification as on March 29, 2011. | Should obtain DOCE Certification on or before March 29, 2013. |
| 2 | Associated persons employed by a DP and having either of BCCD / NCFM Certification as on March 29, 2011. | Should obtain DOCE Certification before expiry of the validity of the said certification. |
| 3 | New Associated person employed by a DP after March 29, 2011. | Should obtain DOCE Certification within one year from date of employment of the official. |
| 4 | Associated persons employed by a DP and holding a certificate on completion of CDSL’s DP TRAINING PROGRAM on or before March 29, 2011. | Should obtain DOCE Certification within three years from date of completion of such program. |
The CPE structure for NISM CPE Programs has been specified vide communiqué NISM/Certification/CPE General/2011/1 dated December 21, 2011 & also vide communiqué NISM/Certification/Depository Operations CPE/2012/1 dated July 09, 2012.
On or before expiry of a valid certificate (i.e. NCFM/NCDO/BCCD/CDSL DP Training) possessed by an associated person, the associated person needs to successfully complete the programme of Continuing Professional Education (CPE) specified by NISM during 12 months preceding the date of expiry of the certificate, or pass the DOCE before expiry of the existing certificate, so as to have the certificate revalidated for a further period of 3 years.
CPE Training Program
Eligibility for appearing for CPE programme- Depository Operations
Any person holding a valid certificate as mentioned below, which is due to expire within the next twelve months and wishing to renew validity of the certificate for another three years from the date of expiry of the certificate may appear for NISM's CPE for Depository Operations.
List of valid certificates:
- Certificate on completion of CDSL's DP training programme on Central Depository Services (India) Limited
- BCCD i.e., BSE's Certification in Financial Markets (BSE's Certification on Central Depository) of the Bombay Stock Exchange Limited.
- NISM Series VI- Depository Operations Certification Examination (DOCE).
- NCFM i.e., NSE's Certification in Financial Markets (NSDL - Depository Operations Module) of the National Stock Exchange of India Limited.
- NCDO i.e., NSDL's Certification in Depository Operations of the National Securities Depository Limited.
Any person who is actively engaged in the management of the intermediary's securities business including supervision, solicitation, conduct of business, including:
a) Sole Proprietors
b) Managing Partners
c) Whole Time Directors
It can be classified under the Principal category. Such persons belonging to the Principal category, may appear for NISM's CPE Program for Depository Operations under the Principal category, on submission of the required documents.
Any person who has completed the age of 50 years as on March 29, 2011, may appear for NISM's CPE Program for Depository Operations under the Grandfather category, on submission of the required documents.
Any person who has been actively engaged or employed by a registered Depository Participant in any of the below mentioned activities:
- Dealing or interacting with clients.
- Dealing with securities of clients.
- Handling redressal of investor grievances.
- Internal control or risk management.
- Activities having a bearing on operational risk.
- Maintenance of books and records pertaining to the above activities
for 10 years or more, as on March 29. 2011, may appear for NISM's CPE Program for Depository Operations under the Grandfather category, on submission of required documents.
For further details about NISM, please visit www.nism.ac.in