Formal recognition in 6 Chinese cities for CISI securities qualifications

By Lora Benson | Mar 17, 2022

Following the announcement of the Securities Association of China on 16 February 2022 the Chartered Institute for Securities & Investment (CISI) has received recognition for its Certificate in Securities, Investment Advice Diploma (Securities), and Chartered Wealth Manager qualification in 6 cities across China.

The SAC notice gives special procedures for overseas securities professionals working in Shanghai, Hainan Province, Chongqing, Hangzhou, Guangzhou and Shenzhen provided that they have a work or residence permit for the city.  This new allowance comes as qualifications adopted for the purpose of licensing securities practitioners, by regulators internationally, are now recognised in these 6 pioneering cities, effective immediately. 

The CISI’s Investment Advice Diploma (IAD) (Securities), and Chartered Wealth Manager (CWM)* qualification are both recognised by the FCA in the UK for Activity 2: Giving personal recommendations on securities which are not stakeholder pension schemespersonal pension schemes or broker funds. Following the Memorandum of Understanding between the Financial Conduct Authority (FCA) of the UK and the China Securities Regulatory Commission (CSRC), these qualifications are now recognised for overseas securities professionals working in the 6 named cities.

The true global nature of financial services, and the CISI are reflected as the CISI’s Certificate in Securities will also be recognised by the CSRC through the CSRC’s MOU with the Securities & Commodities Authority in the United Arab Emirates.  The CISI has been working in the UAE since 2010 when they partnered to provide a qualifications-led licensing regime in the securities market. The Certificate in Securities (UAE) is the core certification for licensing securities practitioners.

Kevin Moore, Chartered FCSI, CISI Global Business Development Director said: “This is an exciting milestone for the CISI in China. We were proud to gain formal recognition for our wealth management pathway in Qingdao in 2017, but to see this expanded to 6 more cities, and for all our Securities qualifications is a real asset and will support the flow of human capital.  The CISI currently has recognition in 73 countries.”

160322Ernest Yeung - HR (2019)Ernest Yeung, Chartered FCSI President of CISI National Advisory Council for the Greater Bay Area of China (left) said: “As a Chartered Fellow and active member of the CISI’s Advisory Council, I am delighted we sought this important recognition from the Chinese regulators. The CISI and its NAC will continue to contribute to the development of financial education and promote the highest standards of professionalism in China through its globally recognized qualifications and CPD programme.” 

Matteo Pallotta (right), Chartered MCSI,170322Matteo Pallotta Chartered Wealth Manager, and Co-Founding Partner of Wherefor Group, the first and only R&D&I Intermediary, a new type of global private Investment Bank and Holding Company based in Shenzhen said: “Being a Chartered member has always enabled me to benefit from an enhanced status within the financial services sector overseas.  The CISI is known for its certification programmes and for promoting the highest levels of professionalism and integrity. Gaining this recognition in China is a significant marker for the CISI as the China market opens up.  I believe that will set the pathway for further growth and movement of human capital, and in time will offer up integration possibilities with local stakeholders”.

* Chartered Wealth Manager is listed under its old name “Masters in Wealth Management (post 2010 examination standards)”

Mandarin translation