The Securities and Exchange Board of India (SEBI) has extended the deadline for key investment team members of Alternative Investment Funds (AIFs) to obtain the mandatory NISM certification. The revised deadline is now July 31, 2025, up from the earlier date of May 9, 2025.

Under Regulation 4(g)(i) of SEBI’s AIF Regulations, 2012, at least one key investment personnel must hold a valid certification specified by SEBI. As per a May 2024 notification, the required certification is the ‘NISM Series-XIX-C: AIF Managers Certification Examination’.

The extension follows industry representations and aims to ease compliance burdens. It applies to AIF schemes active as on May 13, 2024, and those with pending scheme launch applications as of May 10, 2024.

The circular is effective immediately and has been issued under SEBI’s regulatory powers to protect investors and promote market development.

The SEBI circular can be accessed here: Click Here