NISM Series III-A (Compliance) study plan
NISM Series III-A (Compliance) · Give each week a clear focus.
8 weeks · About 7 hours per week
Securities Intermediaries Compliance (Non-Fund)
Map the full NISM Series III-A syllabus into a one-page checklist of every regulatory topic area, marking each as known, shaky, or unknown
Explain the roles and registration requirements of securities intermediaries under SEBI (Intermediaries) Regulations, including compliance officer appointment and eligibility conditions
List the categories of intermediaries covered (stock brokers, merchant bankers, underwriters, portfolio managers, depository participants, investment advisers) and the registration route for each
Define 'compliance officer' duties and the reporting lines to SEBI and the board
Your checkpoint
A completed syllabus checklist with self-rated confidence scores and a written 300-word summary of intermediary registration categories
Securities Intermediaries Compliance (Non-Fund)
Summarize SEBI (Stock Brokers) Regulations obligations: registration, capital adequacy, segregation of client funds, and maintenance of books
Distinguish between client funds and client securities handling rules, including the upstreaming and settlement cycle requirements
Explain know-your-client (KYC) and anti-money-laundering obligations applicable to intermediaries, including record retention periods
Identify the reporting and disclosure requirements intermediaries owe to SEBI and stock exchanges
Your checkpoint
A two-column comparison table of client fund vs client securities handling rules plus a 10-item KYC/AML obligations checklist
Securities Intermediaries Compliance (Non-Fund)
Explain SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations and how compliance officers detect and report manipulative conduct
Describe insider trading prohibitions under SEBI (Prohibition of Insider Trading) Regulations, including the code of conduct, trading window closures, and disclosure obligations
Outline the compliance officer's role in maintaining the structured digital database and handling UPSI
Draft a short internal escalation procedure for a suspected insider trading incident
Your checkpoint
A one-page insider trading compliance flow covering UPSI identification, trading window closure, and reporting escalation
Securities Intermediaries Compliance (Non-Fund)
Explain SEBI (Intermediaries) Regulations inspection, inquiry, and enforcement powers, including penalties and cancellation or suspension of registration
Summarize the grievance redressal and investor protection framework including SCORES and the role of the compliance officer
Review code of conduct obligations across intermediary categories and identify common compliance failures
Complete a timed 40-question practice set on intermediary regulation and record accuracy by topic
Your checkpoint
A scored practice test report with a list of the five weakest topics and a remediation plan for each
Securities Intermediaries Compliance (Non-Fund)
Explain SEBI (Portfolio Managers) Regulations obligations including eligibility, reporting, and client disclosure requirements
Describe SEBI (Investment Advisers) Regulations duties including risk profiling, fee caps, and record maintenance
Outline depository participant and depository obligations under SEBI (Depositories and Participants) Regulations
Compare compliance obligations across portfolio managers, investment advisers, and depository participants in a matrix
Your checkpoint
A completed compliance obligations matrix covering at least four intermediary categories across ten obligation dimensions
Securities Intermediaries Compliance (Non-Fund)
Explain the Prevention of Money Laundering Act framework as it applies to securities intermediaries, including reporting to FIU-IND
Describe SEBI (Research Analysts) Regulations and the separation of research from other business functions
Outline record-keeping, audit, and internal control requirements for intermediaries, including periodic compliance audits
Identify the compliance officer's obligations during a SEBI inspection, including document production and response timelines
Your checkpoint
A written inspection-readiness checklist of at least 15 items an intermediary must have in place before a SEBI inspection
Securities Intermediaries Compliance (Non-Fund)
Review all flagged weak topics from weeks 1-6 and close gaps by re-reading primary regulation text
Complete two timed 50-question mock exams under exam conditions and analyze error patterns
Memorize key thresholds, timelines, and numeric limits across regulations using a self-built reference sheet
Practice explaining compliance scenarios aloud to test recall under time pressure
Your checkpoint
A one-page numeric reference sheet of thresholds and timelines plus two scored mock exam analyses
Securities Intermediaries Compliance (Non-Fund)
Complete one final full-length timed mock exam and target a score above the passing threshold
Review every incorrect answer from all mock exams and write a one-line rule statement for each mistake
Rehearse the highest-frequency exam topics: registration, code of conduct, insider trading, and client fund handling
Finalize an exam-day strategy covering time allocation and question triage
Your checkpoint
A final mock exam score report with a consolidated error log and a one-page exam-day strategy note
Milestones
Week 2: Can list all major intermediary categories and their registration and capital requirements from memory without notes
Week 4: Scores at least 60% on a timed 40-question practice set on intermediary regulation
Week 6: Can explain the compliance officer's duties during a SEBI inspection in under five minutes without notes
Week 7: Scores at least 70% on two consecutive timed 50-question mock exams
Week 8: Scores above the passing threshold on a full-length timed mock exam and has reviewed every incorrect answer