The ACI – The Financial Markets Association (ACIFMA), a global finance trade association with over 8,000 international members in five continents, has signed an agreement with the Chartered Institute for Securities & Investment (CISI).
ACIFMA, established in 1955 and based in Paris, France, represents the interests of the professional financial markets’ community, focusing on enhancing best market practice and supporting market participants to adhere to principles of ethical conduct. It has a global network of National Associations in 61 countries and offers a suite of education and certification products and services.
The agreement between the CISI, which has 45,000 global members, and ACIFMA, confirms both organisations will collaborate in the delivery of education tools to global financial markets using mutual networks, particularly relating to respective examination and membership offerings.
The arrangement encompasses qualifications, membership, ethics and CPD content and will include mutual recognition of some ACIFMA programmes being treated as equivalent to a CISI examination unit for the CISI Investment Operations Certificate (IOC).
For example, candidates who hold either a ACIFMA Dealing Certificate or ACIFMA Operations Certificate will be given a unit credit and so they will be able to complete the CISI Investment Operations Certificate (IOC) by sitting just the International Introduction to Securities & Investment and one, rather than two, IOC technical exam units*.
Those candidates who have completed the IOC and included one of the specified ACIFMA exams will be offered Associate level membership of the CISI.
In addition, CISI will recognise the ACIFMA Diploma as an appropriate external qualification for those who wish to apply for Associate membership of the CISI and use of the designatory letters ACSI.
ACIFMA members wishing to apply for CISI membership using this route will also require a minimum of three years relevant industry experience.
The arrangement will work towards recognition of each other’s continuing professional development (CPD) content as counting towards their members’ annual CPD requirements.
Simon Culhane (pictured), Chartered FCSI, CISI CEO, says: “We are delighted to renew and expand our partnership the ACIFMA, which has a proud history since 1955. The synergies between our two organisations are exciting for both sets of members, global market clients and customers. We look forward to working together on the further raising of professional standards in markets globally.”
Bruno Langfritz, ACIFMA Chairman, says: “We are entering in a new area of collaboration with CISI, the leading global organisation for examinations and qualifications. The main objectives of this partnership are the promotion of ethical conduct and integrity, which are in today’s world, two of the most critical topics for financial markets. The combined journey forward of CISI and ACIFMA will bring additional positive developments for the industry and to our combined members.”