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Capital Markets Continuous Professional Development (CPD)
As part of its mandate under the Capital Markets and Securities Act, Chapter 79 R.E. 2002 (CMS Act), the Capital Market and Securities Authority (CMSA) promotes and facilitates the development of an orderly, efficient, and sustainable capital markets and securities business in Tanzania while ensuring fair and equitable dealings. The CMSA undertakes this role to ensure that the capital markets in Tanzania are sound, resilient, and remain competitive in the global market space. One way this is achieved is through certification of market professionals, a program that is conducted pursuant to Section 32 of the CMSA Act, in collaboration with the Chartered Institute for Securities and Investment (CISI), United Kingdom.
Complementary to the certification is the Capital Markets Continuous Professional Development (CPD) Programme, which aims at furthering the knowledge and skills of market players and ultimately enhancing their domestic and internal competitiveness on a consistent basis. This will ensure maximum integrity, transparency, and consistency in client engagement while upholding the highest standards of professionalism among key staff within capital markets intermediaries.
In this regard, CMSA has developed the Capital Markets Continuous Professional Development (CPD) Policy to facilitate implementation of the CPD program. The policy showcases key features of the program and the procedures through which a professional member shall need to undertake to achieve the requirements of the CPD program. CMSA will set specific requirements for recognition of CPD service providers.
OBJECTIVES OF THE CPD PROGRAM
The objective of the program is to keep market players and professionals with the pace of global market demands in the delivery of services and promote professionalism and expertise in the capital market business. Specifically, the objectives of the CPD are to:
- Provide a platform for brokers, dealer representatives, nominated advisors, nominated advisor representatives, investment advisors, regulators, stock exchange officials and other market players to update their knowledge;
- Ensure that market professionals have sufficient understanding of capital markets in order to perform their roles in a way that contributes to making an orderly market that is fair and efficient;
- Convey an understanding of the practical skills for managing companies in the securities business in general;
- Facilitate market professionals to appreciate that securities business is the most likely to flourish in a market that enjoys the trust of both investors and issuers; and
- Bridge the gap of the increasing need for competent market professionals given the current and anticipated growth of the capital market industry in the country.
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