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CIS Introduces Specialised Certifications for Market Operators

The Governing Council of the Chartered Institute of Stockbrokers (CIS) has approved the newly introduced Specialised Professional Certifications (SPC), called the Stand-Alone-Programme.

Under the new professional qualification, which would be unfolded to potential beneficiaries on February 17 Lagos, the holder shall be granted a license to practise in specific areas of the capital market as a core duty.

The SPC, which is in line with global trends, shall cover the following core areas: commodity trading and derivatives, equities dealing, share registration and custodianship services, investment management and financial advisory.

By the new certifications, which commence in March this year, the examination shall run concurrently with the institute’s current professional examinations which hold in March and September annually.

According to the Registrar/ Chief Executive of CIS, Mr. Adedeji Ajadi, the requirements for the SPC are the same as the professional examinations. Ajadi explained that a holder of the specialised certificates shall be addressed as stockbroker who is a specialist in one particular area of the securities and investment industry.

“They are licensed to practise only in that specific area. Although an individual can acquire as many different SPC licences as possible.

Four specialised certificates will qualify the holder to become an Associate member of the institute,” Ajadi said.

According to CIS, after induction, its SPC graduates shall be called specialists in their chosen area and they will be inducted and licenced under the same conditions as the omnibus professional examination graduate.

“After induction, the SPC graduate shall be addressed as Certified Commodity and Derivatives specialists, Certified Equity Specialists and Certified Fixed Income Specialist among others,” the statement said.

The President of CIS, Mr. Oluwaseyi Abe had consistently explained the need for prospective stockbrokers to take advantage of the newly approved windows of opportunities in line with the global standard .

Abe had last year said that at 25, CIS had come a long way through the crests and troughs and we have many more mileages to gain.

“We have come to stay as one of the foremost professional institutes, and we are not relenting in our efforts to propagate the ideals of the capital market. At CIS, we strongly believe that the Nigerian economy is sophisticated enough to have a more vibrant capital market that can contribute more meaningfully to the growth and development of the economy and it is our honourable service to continue to contribute our quota with zeal and determination for a more glorious future for the capital market in particular and the economy in general,” he said.