‘Stock brokers must undergo ICM certification’


The Institute of Capital Markets (ICM) has made it mandatory for employees of the country’s brokerage houses to enroll with it for a Certification Program in line with the instructions of the Securities and Exchange Commission of Pakistan (SECP). In a notice issued on Monday, the ICM told the front regulators at Karachi Stock Exchange (KSE) that all candidates fro brokerage firms/houses, with relevant function, would be entertained through examination of the said certification.
“Grandfathering of experience was allowed to be registered with the Institute… for one year from the date of the launch of the Program and thus, has been closed from June 30, 2011,” the ICM notice said adding that “After this date passing of examination was obligatory”.
“As of from that it is mandatory to enroll for the Certification Program,” said in the notice Syed Javed Hassan, chief executive of the Institute.
The KSE has been asked to advise its members to encourage their employees, performing the designated functions, to register with the ICM “at the earliest”.
ICM is a non-profit organization working since 2009 under the ambit of the SECP to educate the participants of financial sector industry.