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Thursday 29 May 2014

Kevin Moore Chartered MCSI Director, Global Business Development. Introducing the Chartered Institute for Securities and Investment (CISI). Thursday 29 May 2014. Who are the CISI?. ‘Not for profit’ organisation – with over 100 Corporate Supporters

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Thursday 29 May 2014

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  1. Kevin Moore Chartered MCSIDirector, Global Business Development Introducing the Chartered Institute for Securities and Investment (CISI) Thursday 29 May 2014

  2. Who are the CISI? ‘Not for profit’ organisation – with over 100 Corporate Supporters 92% of the world’s international banks take CISI qualifications More than 37,000 examinations taken in 66 countries in 2013 Over 40,000 members in 110 countries Head office – London Offices in Singapore, Mumbai, Dubai, Dublin and Colombo Accredited by the FCA in the UK – links with regulators worldwide

  3. CISI in Cyprus 47 members National Advisory Council headed by Charles Charalambous, Chartered MCSI Committee includes: Mr Petros Florides, Chartered FCSI Mr Christos Ombashis, MCSI Mr ConstantinosMarkou, MCSI From left: Kevin Moore, Chartered MCSI, Charles Charalambous, Chartered MCSI, President CISI Cyprus NAC and Petros Florides, Chartered FCSI

  4. 3 Main Activities MAINTAIN Competence Membership for continuing professional development Promote TRUST Promote high standards of integrity & ethics ATTAIN Competence Testing knowledge, awarding qualifications To set standards of professional excellence and integrity for the securities and investment industry, providing qualifications and promoting the highest level of competence to our members, other individuals and firms

  5. CISI Qualifications For professionals, by professionals • Capital Markets • Wealth Management • Investment Management • Investment Operations • Compliance • Risk • Information Technology • Corporate Finance • Islamic Finance

  6. The CISI’s Qualifications and Membership Framework 2014

  7. Who works with the CISI? More than 37,000 examinations taken in 66 countries in 2013

  8. Global Operating Model Regulator and/or professional links in 27 countries Bahamas Bahrain Cyprus Germany Gibraltar Greece Guernsey Hong Kong Isle of Man India Japan Jersey Lebanon Malaysia Malta Netherlands Oman Palestine Qatar Singapore South Africa Sri Lanka Sweden Tunisia UAE UK USA

  9. CISI Professional Qualifications Created by professionals for professionals Exam syllabuses produced and reviewed annually by panels of industry practitioners Questions are practitioner moderated to ensure they are up-to-date and relevant benchmark qualifications across the financial services spectrum - operations, retail, wholesale, front, back and middle office. All exams Ofqual (UK exam regulator) approved

  10. Taking CISI Exams Majority of exams delivered by computer based testing Exams delivered internationally through worldwide network of test centres in major cities globally Flexible scheduling - available to take when the candidate is ready All exam questions statistically tested for validity & reliability Extensive security procedures used to maintain integrity Specific arrangements for FSLF exams

  11. Financial Services Legal Framework How were the exams developed? Work started in July 2014 following awarding of tender to the Consortium Syllabus, workbook and exam developed sequentially to follow CISI development processes - ensures that all elements are aligned Time taken in development of each element to ensure that a product of high quality is produced Experienced teams at CISI involved, who have undertaken development of other regulatory exams, including for the UK Working in conjunction with CySEC and local experts to ensure loyalty to the Cypriot legal framework Big body of Cypriot legislation

  12. Financial Services Legal Framework The new CYSEC exam framework Aim to test candidates knowledge on the regulatory framework in force in Cyprus and ensure compliance with laws and regulations by regulated entities and certified persons Produced by the CISI in partnership with Cyprus International Institute of Management under instruction from CYSEC Two separate exams – basic and advanced Both computer-based tests available throughout the year Both to have comprehensive workbook All materials including exam to be available in English and Greek Pass mark 60% for both exams

  13. Financial Services Legal Framework Basic Examination – key facts Duration: 1 hour Questions: 50 multiple choice 4 options for each question Recommended study Hours: 80 hours Supported by comprehensive workbook containing all required learning material Workbook replicates syllabus structure

  14. Financial Services Legal Framework Basic Examination – specification and weightings

  15. Financial Services Legal Framework Element 1 – Scope/Powers/Offences – 4 questions Each element breaks up into learning objectives Each learning objective is either Know or Understand Know – candidates required to recall information Understand – candidates need to demonstrate comprehension On completion, the candidate should: 1.1 Scope and application 1.1.1 Know the scope and application of Law 144(I) 2007 • Regulated markets and activities • Cypriot Investment Firms (CIF) • Banks • Co-operative credit institutions • Persons providing investment services 1.1.2 Know the regulatory structure in the Republic • Cyprus Securities and Exchange Commission (the Commission) • Central Bank of Cyprus (the Central Bank) • Authority for the Supervision and Development of Co-operative Societies (ASDCS) • Obligation of co-operation with other member states and the Commission’s right to refuse

  16. Financial Services Legal Framework Element 1 – Scope/Powers/Offences – 4 questions 1.2 The Cyprus Securities and Exchange Commission 1.2.1 Know the responsibilities of the Cyprus Securities and Exchange Commission (the Commission) 1.2.2 Know how the Commission co-operates with other authorities • Eligible authorities • Conducting investigations on behalf of other authorities • Exchanging information • Circumstances where inside information may be shared 1.2.3 Know the extent of the Commission’s power to collect information and carry out inspections and investigations 1.2.4 Know the extent of the Commission’s power to impose sanctions for non-compliance with a request from the Commission to: • Submit information • Co-operate in an onsite inspection/investigation 1.3 Offences 1.3.1 Know which violation constitutes both a criminal and an administrative offence Each element breaks up into learning objectives Each learning objective is either Know or Understand Know – candidates required to recall information Understand – candidates need to demonstrate comprehension

  17. Financial Services Legal Framework Advanced Examination – key facts Duration: 90 minutes Questions: 70 multiple choice 4 options for each question Recommended study Hours: 90 hours Again, supported by comprehensive workbook containing all required learning material Workbook replicates syllabus structure

  18. Financial Services Legal Framework Advanced Examination – specification and weightings

  19. Financial Services Legal Framework Element 9 – European Union – 6 questions 9.1 European Commission (EC) regulations 9.1.1 Understand the main provisions of Commission regulation (EC) No 1287/2006 9.1.2 Understand the main provisions of Commission regulation (EC) No 231/2013 9.1.3 Understand the main provisions of directive 2013/36/EU of the European Parliament 9.1.4 Understand the main provisions of regulation 575/2013 of the European Parliament 9.1.5 Understand the main provisions of regulation (EU) No 648/2012 of the European Parliament and of the Council. 9.2 European Securities and Markets Authority (ESMA) 9.2.1 Understand the main provisions of ESMA guidelines for competent authorities and UCITS management companies 9.2.2 Understand the main provisions for the calculation of synthetic risk and reward indicators in Key Investor Information documents Each element breaks up into learning objectives Each learning objective is either Know or Understand Know – candidates required to recall information Understand – candidates need to demonstrate comprehension

  20. Registration for CySEC Exams Exam booking form willbe on CySEC website Completed by individual and returned to CySEC CySEC sends completed exam booking form to CISI Booking completed within 48 hours of receipt by CISI Candidate and CySEC receives email confirmation of exam booking Workbook emailed directly to candidate within 48 hours of booking being completed

  21. Sitting for CySEC Exams and Results Exams available every Tuesdays at 11am or 1:30pm to meet demand Testing to be held at Cyprus International Institute of Management 15 slots available in each exam session On CISI’s Secure Internet Testing platform (C-SIT) Result available on screen upon completion of exam, grade online within 72 hours, and results letter sent out Certificates sent out to successful candidates

  22. Professional Membership Enhanced professional standing through association with a Chartered body Core emphasis on personal integrity Designatoryletters - signifying a highly qualified professional committed to continuing learning Ability to climb the ladder - Associate to Member to Chartered Fellow Access to learning via online tools, seminars and events and industry publications

  23. The CISI Contribution • Integrity test for wholesale exam candidates and CISI members • Exam questions • Integrity & Ethics Committee • Annual Lecture • E-learning • Monthly case study • “Integrity at Work” • “IntegrityMatters”

  24. Invest in yourself London Bridge Station Bank Station

  25. Thank you Kevin Moore Director, Global Business Development kevin.moore@cisi.org + 44 20 7645 0630 Praneet Shivaprasad International Manager praneet.shivaprasad@cisi.org + 44 7810 157640

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