Stockbrokers have been challenged on professionalism and advised to work towards the growth of the capital market.
The Securities and Exchange Commission (SEC) has urged members of the Chartered Institute of Stockbrokers (CIS) to continue to uphold the tenets of the profession and strive to contribute to the growth of their respective organizations and the capital market at large.
Acting Director General of SEC, Ms. Mary Uduk who stated this during her induction ceremony as an Associate Member of the CIS in Lagos Monday, said by promoting and protecting the interests of the profession through prescribing and upholding the highest standard of service and integrity, the institute contributes highly to the attainment of a capital market of our dreams.
She said the strong collaboration between the CIS and the SEC has led to the achievement of tremendous results over the years, especially in deepening the capital market.
One of such collaborative initiatives she said, led to the development of a stand-alone capital market studies curriculum to be introduced at the Basic and Secondary Schools levels of education in Nigeria.
“The initiative, which is in partnership with other stakeholders, is one of the cardinal objectives of the Capital Market Master Plan, aimed at inculcating a culture of financial literacy and boosting investment education in Nigeria” she said.
According to Uduk, “ The strength of character and service innovation of our professionals is one of the yardsticks with which the Nigerian capital market is benchmarked by the investing community. The way and manner capital market professionals conduct businesses with clients will affect how our market is perceived.
“At the Commission, we recognize that the Institute is a critical stakeholder in the capital market, and therefore, should strive to continue to maintain the highest level of professional standard towards ensuring that our market remains manned by the most competitive professionals in the world”.
She expressed delight at becoming a member of CIS, a highly revered body of securities & investment experts, whose pivotal role it is to maintain high standards in the stockbroking profession in Nigeria.
“I am also honoured to be inducted into this great institute and hereby pledge to abide by the ethics of this noble profession to further the development of the capital market.
With the support of the Institute and other market stakeholders, I look forward to working with the Institute to move the Nigerian capital market to the next level where it would contribute positively to the growth of the economy.
“CIS is a provider of knowledge, skill and capacity development to professionals in the field of securities and investment. As the only professional body in Nigeria empowered to conduct qualifying examinations and provide professional qualifications for stockbrokers, the Institute ensures the creation and maintenance of high standards in the stockbroking profession in Nigeria” she stated.
In his remarks, President of CIS, Mr. Dapo Adekoje said the institute takes the issue of professional standards and ethical behaviour of its members seriously as erring members are investigated and disciplined as necessary.
Adekoje said the principal activities of the Institute are the provision of examinations leading to qualifications as Securities and Investments Professionals, organising seminars and continuing professional education courses for members and practitioners to improve standards of professional competence