The Securities and Exchange Board of India has approved a proposal mandating certification for alternative investment funds, causing concern among fund managers who fear reputational risks if they fail to pass. Private equity and hedge fund managers must now validate their skills by clearing a certification examination from the National Institute of Securities Market. Portfolio management services and investment advisers have already been subject to similar certification requirements, but AIFs serving high net-worth investors will now face the same scrutiny.
source https://www.livemint.com/news/india/private-equity-hedge-fund-managers-face-exam-jitters-as-india-mandates-certification-examination-for-alternative-investment-funds-sebi-aifs-11681843646962.html
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