As per the recent SEBI circular, every Compliance Officer appointed by a manager of an AIF must possess a specified certification issued by the National Institute of Securities Markets (NISM). The certification focuses on securities market compliance with particular emphasis on fund-related regulatory obligations.

From the effective date: AIF managers can appoint only certified individuals as Compliance Officers. Existing Compliance Officers who do not hold the prescribed certification must obtain it before 1 January 2027. Continuation in the role beyond this date will be permitted only upon fulfilment of the certification requirement. This move ensures that individuals responsible for compliance are adequately trained and possess uniform regulatory knowledge relevant to the AIF ecosystem.