Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has released a consultation paper aimed at overhauling the certification and continuing professional education (CPE) requirements for professionals in the financial services sector. This initiative seeks to unify and enhance the regulatory standards for financial sector professionals to ensure investor protection and promote economic growth.

According to Securities and Exchange Commission of Pakistan, the concept paper, titled “Consultation on Mandatory Certifications and Continuing Professional Education (CPE) Requirements in Financial Services,” outlines a plan to consolidate all certification requirements across SECP-regulated sectors. This includes the introduction of a comprehensive framework for the training and regulation of financial services professionals. The paper is available on the SECP’s website to gather public input on the proposed changes.

This initiative builds on the mandatory certification model adopted by the SECP in 2009, which was designed to enhance the professional competence of individuals in specific functions and positions within the regulated financial sector. The Institute of Financial Markets of Pakistan (IFMP) was pivotal in introducing relevant certifications at that time.

The proposed regulatory structure aims to address the evolving needs of the financial services industry by ensuring that professionals remain well-informed of industry trends and regulatory updates through continuing education, thereby fostering a more robust and effective regulatory environment.