The programme includes three phases for stockbrokers and four phases for exchange directors, operations managers and internal monitoring officers. All are required to score above 70 per cent in a test in order to get their licences.
However, SCA has decided to give a two-year grace period for those currently practicing these professions to complete the re-accreditation programme by clearing the test. Those joining the sector for the first time have to pass the programme before they can obtain their licence.
The SCA said the tests will start on October 26 in co-operation with the British Securities and Investment Institute (SII).
Ibrahim Al Zaabi, Deputy CEO for Licensing and Enforcement, told a gathering of brokers at Raha Beach Hotel last week that the new programme would benefit the brokerage profession in the country and improve its efficiency and performance.
The SCA official said employees of brokerage companies can register for the exam by filling in the form sent by the authority to the companies starting mid-September and then deposit the fees in SCA's account in Abu Dhabi Islamic Bank for each of the subjects they are to be tested in. Details of the procedures can be obtained from SCA's website.
Once registration and payments are complete, the authority, in co-ordination with the SII, will send the course matter to those enrolled. The SCA will set test dates ensuring least inconvenience for the examinees.
Source - © Emirates Business 24/7 2009
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