CIS Planning Integrity Test For Stockbrokers

The Chartered Institute of Stockbrokers has said it is looking to introduce a mandatory integrity test for stockbrokers.

The computer-based renewable integrity test is one of the components of the Memorandum of Understanding jointly signed by CIS and the Chartered Institute for Securities and Investment of the United Kingdom, according to a statement.

Speaking after the signing of the MoU, the first Vice President, CIS, Mr Tunde Amolegbe, said, “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.”

Amolegbe said 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.

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 and membership.

This is in addition to CIS’s membership and CPD requirements, according to the statement.

It said 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 and Managing Cyber Security.