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CIS NEWS UPDATE

The CIS is pleased to announce that at the Annual General Meeting (AGM) held on April 28, 2009, its members voted unanimously to apply for a new Charter in the name of Chartered Institute of Securities and Investment (CISI).

After reviewing the performance of the Institute since its establishment, the need to strengthen the securities and investment profession such that only recognized professionals are allowed to practise in the securities and investment industry is the motive behind the proposed charter.

In a retreat held November 21-23, 2008, the Council decided on the name of the “Chartered Institute of Securities and Investment” from a list of many options put forward by the members. The proposed name of Chartered Institute of Securities and Investment (CISI) was chosen in order to cover all aspects of securities and investment and bring all professionals in this field under the Institute as members.

“Securities and Investment Professional” is defined as a professional who is primarily engaged in (a) securities dealing and trading including stockbroking; (b) the analysis and evaluation of individual securities and other assets; and/or (c) the application of such analysis and evaluation to portfolio management and investment advice.

Investment professionals therefore include securities analysts, financial analysts, portfolio managers, investment advisors, funds managers, securities researchers and any other professionals involved in advisory services and training in relation to securities and investments.

“The Council has been authorised by the AGM to press forward on the new charter. CIS will seek to write the National Assembly for a new charter. The process is expected to last for many months but we hope that it will be concluded before the tenure of the current legislature in 2011,” said Oluwatoyin Olorunleke, Registrar & Chief Executive, CIS.

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