CIS Renews MoU with CISI, Introduces New Tests for Brokers
Stockbrokers in Nigeria will soon begin to undergo mandatory integrity test for enhanced highest ethical standard of professional behavior as part of Chartered Institute of Stockbrokers (CIS)’s globalisation drive in the area of human capital development.
The computer based renewable integrity test, is one of the components of the Memorandum of Understanding (MoU) signed CIS and Chartered Institute for Securities & Investment (CISI), United Kingdom.
Speaking after the signing of the MoU in Lagos, first Vice President, CIS, Mr Tunde Amolegbe said, currently, stockbrokers that aspire to join CISI are expected to write Integrity test and our Institute would likely embrace the test.
“The Council of CIS 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,” Amolegbe said.
By the renewed MoU, stockbrokers are eligible to become members of CISI, subject to compliance with some requirements, including participation in the global body’s Continuing Professional Development (CPD) and membership. This is in addition to CIS’s membership and CPD requirements.
Commenting on the renewed MoU, Chief Executive, CISI, Simon Culhane said: “We are delighted to confirm our cooperation with the CIS in these important areas of global membership reciprocity, professional qualifications, continuing professional development and ethics and integrity. In this era of emphasis on consumer protection, we look forward to working with the CIS to further enhance Nigeria as a global capital market centre.”
Corroborating him, Amolegbe said: “The relationship between the CIS an CISI is anchored on the need to expose our members to professional global standard 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.”