CMA pledges to support development of capital market practitionersAugust 29, 2019
NAIROBI,Kenya Aug 29 – As part of its drive to enhance the development of a talent pool for the capital market, the Capital Markets Authority (CMA) has signed a Memorandum of Understanding with the Institute of Certified Investment and Financial Analysts (ICIFA).
The CMA Chief Executive, Paul Muthaura, said the partnership will help enhance the development of a professional talent pool among capital market practitioners & Investment and Financial Analysts with a view to exploiting existing synergies between the Securities Industry Certification Programme and the Certified Investment & Financial Analysts.
The ICIFA Chief Executive Officer, Diana Muriuki, added that under the MOU, CMA and ICIFA will promote the professional development of Investment and Financial Analysts and other capital markets industry players in Kenya under the Securities Industry Certification Programme by hosting joint events including training sessions.
Other areas of cooperation include; hosting joint conferences, workshops, seminars and training sessions; joint publications and research; collaboration in the development of curriculums and adoption of industry certification and professional standards jointly with stakeholders; information sharing to enhance compliance with professional and industry standards and ethical requirements; joint support for agreed professional and industry awards; and promoting the implementation of the CPD programme for capital market practitioners.
The CPD programme, which is effective 7 August 2019, requires employees to maintain and develop their knowledge by undertaking at least 35 hours of CPD annually, of which a minimum of 24 hours must be structured and a maximum of 11 hours may be unstructured CPD. The Authority requires compliance with the CPD requirements by 31 December 2020.
The MOU will also support collaboration on reciprocal programmes between the Securities Industry Certification Programme and Certified Investment & Financial Analysts (CIFA) to allow for applicable exemptions as shall be agreed between the two institutions.