Sebi eases rules for mutual fund, SIF distributors with single certification exam

Sebi has introduced a single NISM Series V-D certification that allows distributors to sell both mutual fund and SIF products, removing the need for separate NISM Series V-A and Series XIII certifications. A transition period is provided for existing distributors holding valid Series XIII certification obtained on or before September 21. The move comes as SIF assets under management grew 29 percent month-on-month to about Rs 17,858 crore at the end of June, up from Rs 13,814 crore in May.