FAQs
- What is the ITI?
- Why now?
- Are ITI courses mandatory for all CMSRL holders?
- Will CPE-ITI replace the CPE programme?
- Do all CPE-ITI courses carry the same CPE points?
- What is the CMSA CPE-ITI requirement?
- What is the time frame given to comply with the CPE-ITI requirement?
- What are the four (4) mandatory equity CPE- ITI courses for CMSRL holders (dealing in securities)?
- Are the 4 mandatory CPE-ITI courses extra courses to attend on top of the usual 20 CPE points for CMSRL holders to renew licences?
- Are there any exemptions from having to attend these 4 equity courses?
- Is there a mandatory deadline to complete the mandatory CPE- ITI courses?
- What would happen if an existing CMSRL holder (dealing in securities) fails to complete all 25 courses in 4 years?
- What is so different about the CPE-ITI training courses?
- What is the duration of each CPE-ITI course?
- Are there any changes to the course content?
- Is there any change to the fee structure?
- Is there any change to the delivery?
- How about the CPE points?
- What is the maximum size of the CPE-ITI class?
- With 100 participants (maximum), how effective will CPE- ITI courses be?
- Who funds the ITI programme?
- As it is funded by the CMDF is it possible to reduce the CPE-ITI course fee especially for remisiers?
- Are there any plans to conduct CPE-ITI courses in-house (at the SBCs/ IBs premises)?
- What is the fee for CPE-ITI courses in-house (at the SBCs/ IBs premises)?
- Why the upward revision of fee for ‘in-house’ ITI program?
- Will CPE-ITI replace the licensing examination for new entrants?
- Will there be any examination after each CPE-ITI course?
- Can new entrants attend the four (4) mandatory equity courses prior to obtaining their licence to operate as CMSRL holders (dealing in securities)?
- Can non-CMSRL holders including back-office staff also attend CPE-ITI courses?
- Will SIDC conduct road-shows on CPE-ITI requirements?
- Can CPE points from ITI courses be gained through the Bumiputera Training Fund (BTF) programme?
- Will CPE-ITI courses be conducted by SIDC only?
- How to obtain the CPE-ITI Training Calendar and course outs
- Will ACCA members be able to claim CPD units by attending ITI courses?
What is the ITI?
ITI is a completely new series of CPE training courses. The ITI is intended to provide a holistic and structured capacity building framework for building a strong talent pool for the emergence of a new generation of world class talent with the skills and competence to drive and support the transformation of the Malaysian financial services industry.
Why now?
It is designed to address new market challenges. i.e. the anticipated increase in market competition for quality financial services of a liberalised industry, the advent of technology/internet based services, exacting demands of a rising number of new high net worth investors and in meeting the expectations of the new CMSA licensing regime.
Are ITI courses mandatory for all CMSRL holders?
Yes.
Will CPE-ITI replace the CPE programme?
No. However, all ITI courses are SIDC-CPE accredited.
Do all CPE-ITI courses carry the same CPE points?
Yes, all CPE-ITI courses are SIDC-CPE approved with 10 CPE points.
What is the CMSA CPE-ITI requirement?
The CPE-ITI courses for CMSRL holder (dealing in securities) will be the first to be implemented followed by the courses for other categories of CMSRL intermediaries.
A CMSRL holder (dealing in securities) will have to attend four (4) mandatory equity core courses of the ITI curriculum. The CPE-ITI requirement will apply to all other CMSRL intermediaries upon implementation of the second phase of the ITI.
What is the time frame given to comply with the CPE-ITI requirement?
An existing CMSRL holder (dealing in securities) who were licensed before the announcement of CMSA on 28 September 2008 will be given a maximum of four (4) years to comply with the CPE-ITI requirement starting from the date CMSA comes into effect.
If the CMSRL is obtained after the CMSA came into effect the CPE-ITI compliance requirement must be met within a period of two years from the first licence date.
What are the four (4) mandatory equity CPE- ITI courses for CMSRL holders (dealing in securities)?
Mandatory equity core courses for CMSRL holders (Dealing in securities) are as follows:
| Category | Name of Course |
|---|---|
| EQ01 | Economics and Capital Markets I: Forces Shaping Global Capital Markets |
| EQ02 | Essentials of Fundamental Analytics I: Analysing Company Performance |
| EQ03 | Corporate Strategic Analytics I: Essentials of Corporate Proposal Analysis |
| EQ04 | Corporate Governance and Ethics: Strengthening Professionalism Through Ethics |
Are the 4 mandatory CPE-ITI courses extra courses to attend on top of the usual 20 CPE points for CMSRL holders to renew licences?
No. Under CMSA you still need only 20 CPE points per annum for licence renewals.
Are there any exemptions from having to attend these 4 equity courses?
No. There are no exemptions from the CPE-ITI mandatory requirement. However, under exceptional cases, if the CMSRL holder prefers to attend CPE-ITI courses other than the prescribed mandatory courses, the licence holder must identify any four (4) CPE-ITI courses, justify their course choices and submit to the SC Licensing Department for approval.
Is there a mandatory deadline to complete the mandatory CPE- ITI courses?
For existing CMSRL holders, the four (4) mandatory equity courses must be completed by the end of 2011.
What would happen if an existing CMSRL holder (dealing in securities) fails to complete all 25 courses in 4 years?
The 25 courses represent the complete set of courses of CMSRL holders (dealing in securities) training curriculum. They only need to complete attendance of the four (4) mandatory equity core courses within 4 years or risk losing their licence.
What is so different about the CPE-ITI training courses?
The CPE-ITI courses were developed following in-depth assessment of industry training needs and review of the job descriptions and key performance indicators submitted by the industry, which formed the basis of the questionnaires for an industry-wide training survey. Through the feedback of the survey involving 1313 respondents out of a total sample of 5000, specific curricula for eight job groupings were identified.
CPE-ITI courses are specifically designed to:
- Integrate both technical and inter-personal competencies
- Align training to on-the-job performance
For example; the CPE-ITI curriculum for CMSRL holders (dealing in securities) has 25 courses. It is intended to offer a wide range of topics directly relevant to the nature of the job/business of CMSRL holders (dealing in securities). It is designed to address technical, ethical and interpersonal skills needed to provide value-added services and to cater to the growing needs of retail and institutional investors and high net-worth individuals, domestically and internationally.
CPE-ITI courses adopt adult learning principles
It offers a competency-based training approach using case studies, action-based learning and a variety of simulation exercises.
CPE-ITI courses are structured and progressive
It provides a holistic curriculum integrating technical competencies and interpersonal competencies including ethics. It has two levels. The ITI curriculum covers areas from core skills enhancement to expert skills development.
What is the duration of each CPE-ITI course?
The initial duration of each ITI course was two days. However, the program was revised to a day with effect from 15 March 2008.
Are there any changes to the course content?
Yes; we have taken into account feedback from the market and streamlined some of the case studies and modified some of the technical content to reflect the actual working conditions of remisiers and dealer representatives.
Is there any change to the fee structure?
Yes. The initial fee structure was RM250.00 for a 2-day training course. Following the change in duration to a day, the new fee structure is RM180.00 effective from 15 March 2008.
Is there any change to the delivery?
No. The terminal objective remains to maintain a holistic curriculum that integrates technical competencies and interpersonal competencies. This objective remains intact.
How about the CPE points?
The CPE point credited is still 10 points for a day’s training course.
What is the maximum size of the CPE-ITI class?
Maximum size of the CPE-ITI class is 100 participants.
With 100 participants (maximum), how effective will CPE- ITI courses be?
For the technical training, the approach will be lecturer led with a maximum of 100 participants. However for the sessions focusing on interpersonal skills, participants will be divided into groups of 25 for case study discussions, group projects, exercises on scenario planning, action planning and job-related activities so as to facilitate quality interactive discussions.
Who funds the ITI programme?
The ITI is a five (5) year project funded by the Capital Market Development Fund (CMDF) to enhance market professionalism and boost investor confidence.
As it is funded by the CMDF is it possible to reduce the CPE-ITI course fee especially for remisiers?
No. RM180 is excellent value for a one-day training course. The CPE-ITI is already heavily subsidized by the CMDF. While individual will not enjoy any discounts, SIDC offers group discounts for registration to the CPE-ITI public courses. The CPE-ITI course fees may in fact rise next year due to the higher cost of training venues, travel and accommodation and fees of experienced subject matter experts and facilitators. Demand for quality training in general is on an uptrend.
Are there any plans to conduct CPE-ITI courses in-house (at the SBCs/ IBs premises)?
Yes. SIDC plans to work closely with SBCs / IBs on a first-come-first-served basis to conduct in-house CPE-ITI courses. SIDC also offers competitive rates for in-house courses subject to availability and suitability of the training facilities. To find out more please call SIDC Marketing and Corporate Services at +603 6204 8675 / 8665.
What is the fee for CPE-ITI courses in-house (at the SBCs/ IBs premises)?
The fees for CPE-ITI in-house courses are as follows:
| With effect till 30th April 2008 | With effect from 1st May 2008 onwards |
|---|---|
|
|
Why the upward revision of fee for ‘in-house’ ITI program?
With effect from 1st May 2008, the fee of the program includes speaker, facilitator and administrator fee and their accommodation and traveling expenses in addition to the cost for photocopying, payment for venue and catering. Prior to this date, the cost of speaker, facilitator and administrator and their accommodation and traveling expenses were not charged to the SBCs and was shouldered by SIDC as the program was at pilot stage.
Will CPE-ITI replace the licensing examination for new entrants?
No. Successful completion of licensing exam Modules 6 and 7 remains a mandatory prerequisite for individuals wishing to be licensed or registered under the CMSA. However new CMSRL holders (dealing in securities) will have up to a period of two years (from the date of their first licence) to complete attendance of all four (4) mandatory equity core courses.
Will there be any examination after each CPE-ITI course?
No. There will be no formal assessment. However there will be a self-assessment quiz, mainly multiple-choice questions (MCQ). The quiz is done just before and after each course to help chart participant’s learning progress. It is not compulsory.
Can new entrants attend the four (4) mandatory equity courses prior to obtaining their licence to operate as CMSRL holders (dealing in securities)?
Yes. Anyone is welcome to attend CPE-ITI courses. However, as CPE is a post entry licensing requirement and for the purpose of collecting CPE points, attendance at the four (4) mandatory equity courses should only commence after new entrants have obtained their licences. They can start attending the four (4) mandatory equity core courses once they are licensed. New entrants must complete the four (4) mandatory equity courses within two years from the date of licence.
Can non-CMSRL holders including back-office staff also attend CPE-ITI courses?
Yes. Anyone is welcome to attend CPE-ITI courses but they must be aware that all CPE-ITI courses are designed specifically for CMSRL intermediaries. CPE courses reflect the SC serious commitment to education that can benefit not just market professionals but the investor community as a whole. Participants other than CMSRL holders however, will not be given CPE points and their participation is subject to the availability of seats as priority will be given to CMSRL intermediaries.
Will SIDC conduct road-shows on CPE-ITI requirements?
Only if this is necessary as attendance in CPE-ITI is a mandatory CMSA licence requirement.
Can CPE points from ITI courses be gained through the Bumiputera Training Fund (BTF) programme?
Yes. CPE-ITI public courses are endorsed by BTF Education Committee and are recognised for the purpose of collecting CPE points for the annual licensing renewal requirements. However, accumulation of points through this option is limited to a maximum of 10 CPE points per year.
Will CPE-ITI courses be conducted by SIDC only?
Yes, at present.
How to obtain the CPE-ITI Training Calendar and course outlines?
Announcements and updates on the CPE-ITI public courses will be posted on the CPE website at www.sc.com.my/eng/cpe/fs_CPE.html and the SIDC website at www.sidc.com.my.
The same information will also be posted to the intermediaries (IBS and SBCs) for wider dissemination.
Will ACCA members be able to claim CPD units by attending ITI courses?
Yes. Following SIDC’s MoU with ACCA, CPE points gained from SIDC ITI courses can be cross-credited to ACCA-CPD units. This comes into effect from 17 January 2008.
The conversion is as follows:
| CPE Points |
CPD Unts |
|---|---|
| 10 | 8 |
| 5 | 4 |