SECP is proposing a major overhaul of the certification system for financial professionals. The goal? To boost professional standards and better protect investors in the country’s financial services industry.
Currently, certifications are scattered across different sectors like insurance, securities, and non-banking finance companies (NBFCs). This fragmented approach is being replaced with a single, unified framework.
Here’s the key change: a central certification body authorized by SECP will oversee the entire process. This body will conduct exams and grant certifications to qualified individuals.
The focus will be on self-study, but the central body may partner with training institutions for in-person learning opportunities.
SECP also emphasizes the importance of Continuing Professional Education (CPE) for financial professionals. These programs ensure professionals stay updated with the latest industry developments and regulatory changes.
The consultation paper on the proposed framework welcomes feedback from stakeholders. The aim is to create a robust and credible financial ecosystem in Pakistan. By aligning with international standards and addressing current gaps, SECP seeks to build a financial services industry known for integrity, transparency, and professionalism.
