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Home Business CMA, CISI Unveil Mandatory Training to Raise Professional Standards in Capital Markets

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CMA, CISI Unveil Mandatory Training to Raise Professional Standards in Capital Markets

Editor Corporate NewsUpdated 1 hour Ago2 Mins read19

The Capital Markets Authority (CMA) of Uganda has announced a new partnership with the Chartered Institute for Securities & Investment (CISI) aimed at raising the quality, ethics, and global competitiveness of Uganda’s capital market professionals. A key outcome of the partnership is the launch of a mandatory Continuous Professional Development (CPD) requirement for all market practitioners.

Starting on 18 November 2025, every professional working in the capital markets will be required to complete a specified number of training hours each year. This will be facilitated through CISI’s international learning platform, which offers live webinars, on-demand videos (including CISI TV), e-learning refreshers, and tools to track CPD progress.

Josephine Okui Ossiya, CEO of the CMA, described the initiative as a major milestone for embedding professionalism and integrity in Uganda’s capital markets. She emphasized that ongoing learning is essential given the rapidly changing financial environment.

For her, investor trust is built on the competence and ethical behavior of practitioners. “If you don’t maintain high standards, how can investors trust you with their money?” she remarked.

On the CISI side, Kevin Moore, Executive Director for Membership & Business Development, underlined how critical lifelong learning is in today’s financial world. He said the organization is fully committed to helping CMA roll out this professionalism drive, raising industry standards through continuous education and ethical practice.

The rollout of the new rules will happen in phases:

18 November 2025: CPD becomes officially mandatory.

2026 (calendar year): Transitional period for those already certified under the Securities Industry Certification Programme (SICP).

30 June 2027: Deadline for all market professionals to meet the CPD requirements for the 2026/27 period.

1 January 2028: Full compliance is enforced by linking CPD to license renewals.

Denis Kizito, CMA’s Director for Market Supervision, said the gradual implementation will help everyone adapt smoothly. He also noted that starting in early 2028, meeting CPD standards will be a condition for renewing one’s market license.

Dickson Ssembuya, CMA’s Director for Research & Market Development, encouraged all professionals to embrace the modules. He explained that once a training module is finalized, it will be shared across the entire industry, ensuring uniform learning and development.

This enhanced cooperation builds on an earlier agreement from 2018, which introduced CISI certification for Ugandan capital market professionals. The new phase, however, goes further: it aims to keep practitioners up to date with global best practices, strengthen ethical standards, and prepare the market for future shifts, such as digital finance and cross-border investments.

Kimacia Gitau, CISI’s Regional Representative for East Africa, added that the program is not just about exams—it’s about building a long-term culture of professionalism. She said the three pillars of this initiative are knowledge, ongoing training, and integrity, all of which are crucial for making Uganda’s capital markets competitive and trustworthy on a global scale.

Finally, the CMA said it will soon issue more detailed guidance on how the CPD framework will work, including who is exempt and how the transition will be managed.