CIS Considers Renewable Integrity Test for Stockbrokers

By Dipo Olowookere

Stockbrokers operating in the Nigerian capital market may henceforth have to undergo a computer-based renewable integrity test.

This information was revealed by the Chartered Institute of Stockbrokers (CIS), which explained that the test is one of the components of the Memorandum of Understanding jointly signed recently by the institute and the Chartered Institute for Securities and Investment (CISI) of the United Kingdom (UK).

Vice President of CIS, Mr Tunde Amolegbe, stated that with the partnership between both bodies, Nigerian stockbrokers are eligible to become members of CISI, subject to compliance with some requirements, including participation in the global body’s Continuing Professional Development and membership, in addition to CIS’s membership and CPD requirements.

According to him, CIS Nigeria members would also be offered access to seven professional qualifications of CISI, all of which would be examined by Computer Based Testing in Lagos.

The qualifications are Securities (Capital Markets Programme), Derivatives (Capital Markets Programme), Certificate in Corporate Finance, Risk in Financial Services, Global Financial Compliance, Combating Financial Crime

“Stockbrokers who aspire to join CISI are expected to write integrity test and our institute would likely embrace the test.

“The council of Chartered Institute of Stockbrokers is looking into the direction of introducing integrity test and making it mandatory and renewable for our members. Integrity matters would always remain fundamental to the success of any profession,” Mr Amolegbe informed newsmen after the signing of the MoU.

He disclosed that the relationship between the CIS and CISI was anchored on the need to expose their members to professional global standards through continuous training.

“We are happy to be identified with CISI, UK in this initiative that has prospects to offer a lot of mutual benefits to members of the two reputable professional bodies,” he added.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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