N°2 Quarterly Newsletter - June 2003 -
 
 

ABAMEC becomes “APIMEC Nacional” 
and a National Accreditation Entity for Investment Professionals in Brazil

On April 30, 2003, after many studies and discussions, the Brazilian Securities Commission enacted the "Instruction CVM No. 388", which regulates the activities of analysts and investment professionals in the Brazilian capital markets. As a result, all persons engaged in the activity of investment analysis in Brazil will now be required to register with the Securities Commission in accordance with the provisions of this new rule, including the need to be certified by a national Accreditation Entity, duly authorized by the Commission. At the same time, and to qualify the association for its new role as an accreditation entity for all 

investment  professionals (and not just analysts), the Board of ABAMEC approved a motion to change the name of the organization to "APIMEC - Associação dos Analistas e Profissionais de Investimento do Mercado de Capitais" (Association of Analysts and Investment Professionals of the Capital Market).In addition to the new name - APIMEC Nacional - a new Code of Ethics and Standards of Professional Conduct, which will be largely based on the International Code recommended by the ICIA, will also be adopted. The APIMEC accreditation exam (under the new Instruction) will be largely based on the CIIA's Foundation exam, and it is expected that this will be a major factor in attracting candidates to apply for the CIIA Final examinations.

SFAF France – promoting the CIIA® in Morocco

In November 2002, Mr Balmary of SFAF, held successful discussions with Polyfinance, a private institute in Morocco with which SFAF established a partnership in 1998. The creation of a local Society of Financial Analysts in Casablanca has recently been announced and a new course leading to the CIIA has also been established. SFAF is supporting this new structure.
 

IEAF Spain and IAEF Argentina - establishing CIIA® courses in Buenos Aires

After lengthy discussions over the last year, The IEAF Spain have now have reached an agreement with the Instituto Argentino de Ejecutivos de Finanzas (IAEF), in Buenos Aires to establish training courses which will lead to the CIIA examination.

The courses will start in March 2004 and they will be controlled and monitored by the training and qualifications school of the IEAF Spain,

which will provide the IAEF Argentina with all the necessary know-how, manuals, and bibliography. Over the next few months, some teachers from Argentina will visit Madrid and some Spanish teachers will visit Buenos Aires in order to make sure that the training courses are adequate. The IEAF Spain is also assisting IAEF Argentina to fulfil the requirements for ACIIA membership, and in the meantime, the Argentinean candidates will sit the CIIA examinations through the IEAF Spain.