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The Chattered Institute of Stockbrokers (CIS) has commenced moves to review its Code of Ethics and Standard of Professional Conduct to strengthen the members’ professional practice, enhance their relationship with investors and restore confidence in the market.
As a prelude, a Committee, which comprises eight people has been inaugurated to review the existing code of Ethics which has been operational for ten years. The Committee members will also update the Code of Ethics in line with the present realities in the global financial market.
The Committee’s Chairman is Mr. Ariyo Olushekun, Mr. Jude Chiemeka, Vice-Chairman while Mr. Adedeji Ajadi is the Secretary. Other members are Alhaji Isayku Tilde, Prof. Helen Andow, Dr. Tayo Bello, Mr. Mai Moustapha Muhammed and Mr. Olasunkanmi Iranloye
The Institute’s President, Mr Olatunde Amolegbe, who described the Committee’s members as professionals, charged them to leverage their education, experience and professional approach to produce a better and current ethical code for the institute.
According to him, the Institute has rules that guide the conduct of our members and their relationship with the clients.
He explained that the Committee would review the code of conducts and ethics in line with the Institute’s business which is solely guided by integrity.
“The committee has been asked to play a major role in the development of the capital market. The outcome of the activities of the committee in particular will go a long way in restoring investors’ confidence in the market. Stockbrokers need to be guided, especially in the aspects of the code of ethics and standard of operations because they will be judged by the ethical standard of their operations.
“ We realise that things are changing and new events are arising. This requires that some of these programmes are looked for necessary changes. The present code of ethics was instituted about ten years ago. Our hope is that the committee will be able to bring those Codes to the 21st Century for us and our members to keep on with. Beyond that, we shall put in place a programme that will enable us to renew the rules and codes on a more regular and proper basis”, Amolegbe said.
Similarly, the Chairman of the Ad Hoc Committee on Ethical Code, Mr. Ariyo Olushekun said the ethical code was due for renewal with the current reality in the capital market ecosystem and more so, for the CIS to operate in line with global best practices.
Olushekun added that the committee would look at the current Code of Ethics and make changes and also add new codes based on the committee members’ knowledge, experience and what is generally going on within the institutes’ operations.
“We shall work to get all of them updated to serve the institute and members in the future” , says Olushekun.
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