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.
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.
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.