Timeline Extended for Certification of AIF Managers’ Key Investment Team
SEBI/HO/AFD/AFD-PoD-1/P/CIR/2025/066
Link to SEBI’s Circular
Applicability:
This circular applies to all SEBI-regulated Alternative Investment Funds (AIFs).
Summery:
On 13 May 2025, the Securities and Exchange Board of India (SEBI) issued a circular [SEBI/HO/AFD/AFD-PoD-1/P/CIR/2025/066] extending the timeline for compliance with the mandatory certification requirement applicable to the key investment team of the Manager of Alternative Investment Funds (AIFs).
Key Update
Based on industry representations, SEBI has now extended the compliance timeline to July 31, 2025. The circular states that this extension is aimed at providing "ease of compliance" to the AIF industry.
The circular clarifies:
The new deadline of July 31, 2025 applies to:
Existing AIF schemes as of May 13, 2024, and
AIF schemes whose launch applications were pending as of May 10, 2024.
This extension comes into effect immediately.
Effective Date:
AIF managers should use this time to complete the NISM Series-XIX-C certification and ensure team readiness well before the July 31, 2025 deadline.