Section 7 in Securities and Exchange Board of India (Investment Advisers) Regulations, 2013
7. [ Qualification and certification requirement. [Substituted by Notification No. SEBI/LAD-NRO/GN/2020/22, dated 3.7.2020 (w.e.f. 21.1.2013).]
(1)An individual investment adviser or a principal officer of a non-individual investment adviser registered as an investment adviser under these regulations, shall have the following minimum qualification, at all times -(a)[ A professional qualification or post-graduate degree or post graduate diploma (minimum two years in duration) in finance, accountancy, business management, commerce, economics, capital market, banking, insurance or actuarial science from a university or an institution recognized by the Central Government or any State Government or a recognised foreign university or institution or association or a professional qualification by completing a Post Graduate Program in the Securities Market (Investment Advisory) from NISM of a duration not less than one year or a professional qualification by obtaining a CFA Charter from the CFA Institute;](b)An experience of at least five years in activities relating to advice in financial products or securities or fund or asset or portfolio management;(c)Persons associated with investment advice shall meet the following minimum qualifications, at all times -(i)a professional qualification as provided in clause (a) of sub-regulation (1) of regulation 7; and(ii)an experience of at least two years in activities relating to advice in financial products or securities or fund or asset or portfolio management:Provided that investment advisers registered under these regulations as on the date of commencement of these regulations shall ensure that the individual investment adviser or principal officer of a non-individual investment adviser registered under these regulations and persons associated with investment advice comply with such qualification and experience requirements within three years:Provided further that the requirements at clauses (a) and (b) shall not apply to such existing individual investment advisers as may be specified by the Board.(2)An individual investment adviser or principal officer of a non-individual investment adviser, registered under these regulations and persons associated with investment advice shall have, at all times a certification on financial planning or fund or asset or portfolio management or investment advisory services -(a)from NISM; or(b)from any other organization or institution including Financial Planning Standards Board of India or any recognized stock exchange in India provided such certification is accredited by NISM:Provided that fresh certification must be obtained before expiry of the validity of the existing certification to ensure continuity in compliance with certification requirements:Provided further that fresh certification before expiry of the validity of the existing certification shall not be obtained through a CPE program.]
