Associations & Practice | |
Associations & Practice | |
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Thursday, July 26, 2018 07.37AM / By
CIIA
The Association of Corporate and
Individual Investment Advisers (CIIA) was registered by the Securities
and Exchange Commission on the 20th of April 2018 as the Trade
Group representing the interests of Registered Corporate and Individual
Investment Advisers in the Nigerian capital Market.
The body is also responsible for
maintaining professionalism and discipline within its rank and file through the
administration of its own Practice Code of Ethics and Standards of Professional
Conduct for all its members. This development is coming closely on the heels of
past, most recent efforts, and commitment of the Commission to working closely
with, and through market operators in their respective areas of specialization
towards ensuring overall market probity and the upholding of investor trust.
BACKGROUND
– AN OFFSHOOT OF IAPM
The idea of the CIIA came on stream
quite a while ago, almost immediately following the global financial market
crisis of year 2008, but the enthusiasm and real work to get it off the drawing
board did not start until about four years ago, when the council of the IAPM
(ASSOCIATION OF INVESTMENT ADVISERS & PORTFOLIO MANAGERS), the 37-year old
parent body of CIIA, drew up the clear masterplan to birth the final structure
in 2018. It is however noteworthy that IAPM has for the past 37 years been at
the forefront of the vanguard of protecting both investors’ and professionals’
interests through a number of industry development initiatives including
capacity building programmes.
OBJECTIVE/PURPOSE
The activities of the CIIA will be
fundamentally and largely focused on the elimination of agency issues in the
market and then, the assurance of investor protection, all in the approach by
which they (investors) receive professional investment guidance/services for a
fee(s). This is on the age-old principle of professionals serving the best
interest of their clients – Investors in this circumstance.
OBJECTIVE
THRUST – ‘PETS’
CIIA as a trade group thrives on the
strong ideology of fiducial responsibility to the client-investor, and by this
is launching out with the fundamental objective of building, regaining, and
protecting investor TRUST on the four (4) pillars of its PETS project. In full
terms, CIIA hopes that in the not-too-distant future, every registered
investment adviser shall ensure their services are provided strictly in line
with the following key (PETS) principles:
1.
Professionalism
in investment analysis;
2.
Elimination
of conflicted investment recommendations;
3.
Transparency
in investment actions and;
4.
Standardization
of investment performance reporting.
NEXT STEPS
Learn more about our activities
toward industry reforms on LinkedIn, and our website coming up soon at www.ciiang.com and remain close to us for regular updates.
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