As part of the CMA`s on-going efforts towards development of the Capital Market, and to create appropriate performance standards for authorized persons (APs), the CMA has set out several tests which have to be passed by registered persons or persons who are required to be registered with APs.

The first test to have been introduced deals with the technical skills and professional standards which have to be satisfied by persons occupying registerable functions.

Only executives and board members are exempted from the test which is set and designed by the CMA and managed by the Banking Institute.  All other registered persons or persons who are required to be registered must pass the test which qualifies them to work for the authorized firms.

The CMA has urged the APs to register their staff occupying registerable functions at the earliest possible opportunity, and to enter them as candidates for the test.