SEBI Extends Time to AIFs for Certification Process to July 31

The Securities and Exchange Board of India (SEBI) has also stretched the deadline for Alternative Investment Funds (AIFs) to meet key persons certification requirements. As per the recent circular of May 13, 2025, now AIF managers have until July 31, 2025, to avail themselves of the required NISM Series-XIX-C certification from the earlier May 9, 2025 deadline.

This rule, effective from May 10, 2024, mandates at least one of the most important members of an AIF’s investment team to possess the required certification. Following industry feedback, SEBI provided this relief to alleviate compliance costs for fund managers. The circular, dated Deputy General Manager Sanjay Singh Bhati, becomes effective immediately and is available on SEBI’s website under the Legal Framework tab.

This action is intended to balance regulatory requirements while giving the AIF industry appropriate time to comply with certification requirements.