CISI announces cooperation with Philippines Securities and Exchange Commission (SEC)

By Lora Benson | Mar 12, 2015

The Chartered Institute for Securities & Investment (CISI) has signed a statement of intention to explore working with the Philippines Securities and Exchange Commission (SEC).

The initiative, signed by CISI Chief Executive, Chartered FCSI Simon Culhane and Philippines SEC Economic Research & Training Department Commissioner, Dir. Virgilio V. Salentes in Manila acknowledges that CISI will share its global expertise in the areas of continuous learning and qualifications training.

The SEC has agreed to explore the development of financial training programmes in areas including risk and compliance and to seek areas of cooperation to enhance professional financial services qualifications in line with global standards or best practices.

With 40,000 members worldwide 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 representative offices in financial centres including Dublin, Singapore, Mumbai, Colombo and Dubai and works in close cooperation with regulators, firms and other professional bodies globally.

Simon Culhane, CISI CEO said: “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. 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.”

Teresita J. Herbosa, Philippines SEC Chairman said: “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.”