Market regulator Sebi (Securities and Exchange Board of India) has notified guidelines for investment advisers and their 'associated persons', making it compulsory for them to get requisite certifications to operate in the stock markets.

The investment advisers and their associated persons, including representatives and partners, offering investment advice, would need to get certification from the National Institute of Securities Markets (NISM) after passing the relevant examinations.

In a notification dated June 19, Sebi said, "Investment advisers and their associated persons, including their representatives and partners, offering investment advice, shall obtain certification from the NISM by passing... Investment Adviser certification examination."

In case an 'associated person' has obtained certification by passing the NISM Certified Personal Financial Advisor (CPFA) examination as on the date of this notification, the person is not required to obtain such certification.

The term 'associated person' refers to a permanent or temporary employee of an entity operating in the Indian securities space.

As per the regulator, such 'associated persons' can also obtain certification from organisations and institutions accredited by NISM. (MoneyControl)