The National Institute of Securities Markets (NISM) and Financial Planning Corporation (India) Pvt Ltd (FPCIL) on Thursday entered into a memorandum of understanding to launch a joint certification examination for financial advisors.

“Financial planners should keep investors' interest as their prime focus. This examination is the necessary first step to prepare them for rendering this service. This should be followed by continuous education and training,” said the Securities and Exchange Board of India Chairman C. B. Bhave. FPCIL Managing Director Ranjeet Mudholkar said developing a cadre of professionals, who could provide quality informed financial advice to the retail investors, was the main reason for this joint initiative.

NISM has established six distinct schools to cater to the educational needs of various constituencies such as investors, issuers, intermediaries, regulatory staff, policy makers, academia and future professionals of securities markets.

Derivatives

Meanwhile, Mr. Bhave said “the issue of enabling physical delivery-based settlement is (being) discussed between SEBI and stock exchanges and we expect to reach a conclusion by the end of this month. — PTI