Yes, the circular impacts all AIF Managers (Category I, II, and III). It applies to both new appointees and existing Compliance Officers. Current officers who do not hold the NISM Series III-C certification must obtain it before the enforcement deadline of January 1, 2027, to continue in their role. It also impacts Trustees and Governing Bodies responsible for appointing Key Managerial Personnel (KMP).

While the circular is effective immediately (from its issue date of December 30, 2025), SEBI has provided a transition window. The mandatory enforcement date is January 1, 2027. From this date onwards, no individual can function as a Compliance Officer of an AIF Manager without holding a valid NISM Series III-C: Securities Intermediaries Compliance (Fund) certification.

SEBI has specifically mandated the NISM Series III-C: Securities Intermediaries Compliance (Fund) examination. No other certification -such as Series III-A (Non-Fund) or Series V-A (Mutual Funds) -is accepted as a substitute. The Series III-C curriculum is uniquely structured to cover fund-specific regulations, AIF governance standards, and investor protection mechanisms that differ significantly from non-fund intermediaries.

Yes. GurukulOnRoad offers the most comprehensive 2026 Paid Online Mock Test specifically designed for the NISM Series III-C: Securities Intermediaries Compliance (Fund) examination. This is not just a question bank; it is an exam-to-industry readiness system featuring 2000+ high-quality MCQs structured across three progressive layers: 1. Chapter-wise Practice Tests: 17 chapter-specific drills (1000+ MCQs) to build foundational concept clarity. 2. Full-Length Mock Tests: 5 full-syllabus simulations (500 MCQs) that mirror real exam difficulty and timing. and 3. RegDEEP™ Mastery Assessment Tests (MAT): 5 exclusive "Mastery" tests (500 MCQs) designed to train you on regulatory logic, grey-zone judgment, and examiner traps - skills essential for passing the exam and succeeding as a Compliance Officer.

Yes - the RegDEEP™ Micro Summary PDF is completely FREE, but email sign-in is required to download it. GurukulOnRoad provides these micro summaries as part of its mission to make regulatory learning accessible, exam-ready, and easy to understand - especially for aspirants preparing for NISM, JAIIB, CAIIB, III, FINRA, CII, and other BFSI exams. What remains FREE? 1. All Micro Summary PDFs, 2. All published RegDEEP™ decoded circulars, 3. Up to three (3) custom decoding requests per month for individuals, 4. Exam-oriented insights, MCQ predictions & mapping tables What is paid? Only corporate or enterprise requests (BPO, KPO, GCC, BFSI, L&D teams) for: Custom regulatory decoding, Micro-learning decks, Policy-to-training alignment, and Capability-building solutions