NISM Series XXV-A case studies
NISM Series XXV-A · Put your knowledge to work in context.
NISM-Series-XXV-A is a certification examination titled "Persons Associated with Research Services (Sales and Other Non-Core Services) Certification Examination", issued within the National Institute of Securities Markets (NISM) certification framework. NISM is a public trust established in 2006 by the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India, and it carries out capacity building activities aimed at enhancing quality standards in securities markets. The NISM Series XXV-A case studies are 5 cases and about 3,027 words.
1The Two-Line WhatsApp Flash Note
A broker registered as a research analyst runs an institutional sales desk. On the morning of a large-cap's quarterly results, a sales trader - not a registered research analyst - sends a WhatsApp broadcast to 80 institutional clients: 'Q2 EBITDA beat; BUY, target ₹1,240, stop-loss ₹980; chart attached.' The firm's research head is on leave and has not approved the message.
651 words, about 3 min2The Commission-Linked Sales Pitch
A registered research analyst firm sells subscription packages. Its sales team is paid a base salary plus 20% of subscription fees and ₹500 for every client who executes at least three trades in a stock mentioned in the firm's 'top picks' through the firm's affiliated broker.
649 words, about 3 min3White-Label Research and the House Top Picks
A wealth-management company is not registered as a research analyst. It licenses weekly reports from a registered RA, rebrands them as 'House Research', and adds a one-page 'Top Picks' with its own target prices and a model portfolio that it rebalances monthly.
571 words, about 3 min4The Paid Influencer Reel
A registered research analyst pays a personal-finance influencer ₹2,000 per Instagram post and ₹300 per subscription lead. The influencer has 300,000 followers, is not registered with SEBI, and uses the RA's logo in her bio.
575 words, about 3 min5The Client-Service Email That Revised a Target
A registered research analyst's client-service desk receives an email from a long-standing client: 'Your report had a ₹2,100 target. The CFO resigned yesterday.
581 words, about 3 min