Sri Lanka’s markets regulator upgrades qualification framework
ECONOMYNEXT – Sri Lanka’s capital markets regulator said it was updating its training programs and certification to improve professional standards among stock brokers and investment advisors with a new qualification framework from January 2019.
The revised qualification framework provides for the certification of aptitude in each asset class, be it equity, debt, derivatives or unit trusts, the Securities and Exchange Commission (SEC) said in a statement.
“Under the revised QF, the existing Registered Investment Advisor (RIA) qualification has been enhanced to an apex qualification in the securities industry.”
The Certificate in Capital Markets (CCM) of the revised qualification framework consists of seven course modules: Securities Markets and Instruments, Equity Securities, Debt Securities, Derivatives, Unit Trusts, Financial Planning, Advising and Marketing, and Securities Regulation and Ethics.
The SEC said investment advisors were awarded RIA designation by CSE prior to 2008 or in accordance with the existing qualification framework are required to fulfill Continuous Professional Development requirements to get the RIA status under the new framework.