Singapore, 24 August 2007 – Aiming to address the importance of good business practice in global markets today, the Securities & Investment Institute (Singapore) held its first Continuing Professional Development (CPD) event today with a special focus on Due Diligence in International Transactions.
Inaugurated in September 2006, SII Singapore is dedicated to help the industry to attain and maintain the competency of the workforce within the financial services sector. One of the ways SII does this is through a series of continuing professional development events and professional interest forums that are based on the needs of the industry in all areas of practise.
“Products, services and regulation change abreast daily, this coupled with the development and growth of Singapore as a financial services hub, means that practitioners are challenged to keep up to speed with and ahead of change. SII, through its CPD programme (free to members), provides an efficient and effective way for practitioners to meet the changing demands of their industry.” says Mona Poomy, Executive Vice President of SII Singapore.
The talk delivered by Mr Frank Moxon, Chairman of SII’s Corporate Finance Forum, emphasized the regulatory and ethical drivers in due diligence. From an international finance perspective, Mr. Moxon shared his views on the importance of due diligence, its practical objectives, complexities and best practice advantages.
“Promoting trust and integrity is essential to securing confidence in the handling of global financial transactions all across the industry. With a diverse pool of talent, Singapore as a key operations hub for global banks has benefited from recent developments in international finance. In order to enhance its global position, both financial institutions and practitioners within it need to observe the highest standards of professional conduct.
Appropriately used, this can work as an effective business tool and so help maintain Singapore’s competitiveness.” stresses Mr Moxon.
SII Singapore also invited Mr Terry Gibson, Senior Vice President of Singapore Exchange (SGX) to share his insight on building a global career in Operations Management which helps to address the current shortage of qualified staff for roles in operations faced by the industry today. With more than 1,000 foreign and local financial institutions that base their operations functions here, it is important to create awareness of Operations Management and the critical role it plays within the financial industry.
This event is the first of a series of continuing professional development events organised by SII Singapore. Martin Davidson, Vice President of Citigroup says, “CPD is very important. I think it is key in building the knowledge and skills that professionals need in the financial services industry on a daily basis. It also demonstrates to the public that these professionals have a certain level of ability and so helps to build public confidence.”
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