SEBI requires NISM Series V-D exam from September 22 2026
Business
SEBI just made life easier for anyone looking to sell mutual funds or Specialized Investment Funds (SIFs).
From September 22, 2026, there's only one exam, NISM Series V-D, to clear if you want to distribute both products.
No more juggling multiple certifications like before.
Keep mutual fund certificate during transition
If you already have the older certifications, you can keep working under the current rules until they run out, but you'll need to hold onto your mutual fund distributor certificate in the meantime.
SEBI says this move is all about cutting down on paperwork and making things smoother for everyone in the investment space.
Fun fact: SIFs are pretty new (launched in February 2025), sit between regular mutual funds and PMS, and have seen a big jump in popularity lately.