National Institute of Securities Markets (NISM) is a public trust, established by the Securities and Exchange Board of India (SEBI), the regulator for securities markets in India. In his budget speech of February 2005, the Honourable Union Finance Minister announced that the Securities and Exchange Board of India (SEBI) would establish an institute to undertake securities markets education and research. In pursuance of this mandate, SEBI established the National Institute of Securities Markets (NISM) in Mumbai as a public trust under the Bombay Public T rusts Act, 1950. NISM seeks to add to market quality through educational initiatives. It is an autonomous body governed by its Board of Governors. An international Advisory Council provides strategic guidance to NISM. NISM consists of six different schools as follows: • School for Investor Education and Financial Literacy (SIEFL) • School for Certification of Intermediaries (SCI) • School for Securities Information and Research (SSIR) • School for Regulatory Studies and Supervision (SRSS) • School for Corporate Governance (SCG) • School for Securities Education (SSE)