MANILA, Philippines - London-based Chartered Institute for Securities & Investment (CISI) is set to share its global expertise in the areas of continuous learning and qualifications training with the Securities and Exchange Commission (SEC).
CISI said yesterday it signed a statement of intention to explore cooperation opportunities with the country’s corporate regulator.
With the agreement, the SEC has agreed to explore the development of financial training programs in areas including risk and compliance.
The agency also agreed to seek areas of cooperation to enhance professional financial services qualifications in line with global standards or best practices.
“We welcome the CISI initiatives in the Philippines and know that we will certainly benefit from these. The importance of training particularly in risk management and compliance is well-settled and will surely contribute to the improvement in professional financial services in our country,” SEC chairperson Teresita J. Herbosa said.
CISI is the professional body which sets examinations and offers qualifications for those working, or looking to establish a career in, the wealth management and capital markets industry.
It has 40,000 members worldwide and has representative offices in financial centers including Dublin, Singapore, Mumbai, Colombo and Dubai, and works in close cooperation with regulators, firms and other professional bodies globally.
Simon Culhane, CISI chief executive officer, said the company is currently considering putting up its first office in the country.
“We are extremely pleased to be exploring these opportunities for qualifications and training in Philippines. This year the global award winner for the highest score in the CISI Operational Risk exam was an employee at HSBC electronic data processing facility in Manila,” Culhane said.
“As the demand for our professional industry qualifications is increasing in Philippines we will be exploring the possibility of opening a CISI office in Manila,” he added.