SECP, CFA Society Pakistan ink MoU to raise awareness of investor rights

ISLAMABAD, April 04: The Securities and Exchange Commission of Pakistan (SECP) has signed a memorandum of understanding (MOU) with CFA Society Pakistan (CFASP) a global association of investment professionals in 145 countries, to jointly raise awareness of investor rights and establish the standards of professional excellence in investment management in Pakistan.
The MOU sets the framework for collaboration on promotion of investor rights and financial literacy, and emphasizes the importance of the Statement of Investor Rights awareness among both investors and investment management professionals.
This collaboration will help advocate the highest level of ethical standards and ensure fair practices and transparency, all crucial to the sustainable growth and development of Pakistan’s capital and financial industries.
Terming the partnership a very timely move, the SECP Chairman, Zafar Hijazi, said that protecting investors’ interests, ensuring fair practices and complete transparency in the markets in regulators’ primary responsibility.
The MOU builds on an already strong relationship dating back to 2008 with the implementation of the Analyst Certification Program, designed to develop requisite minimum standards of knowledge and professional practice for analysts working in the financial sector.
The SECP has officially recognized the curriculum of the CFA Program, an international professional credentialing program offered by CFA Institute and widely considered to the gold standard for qualification in the investment management industry.
As part of the SECP recognition, all CFA charter holders are given a waiver to Fundamentals of Capital Markets course which is one of the two exams mandatory for all financial intermediaries in Pakistan.-SABAH