Financial Services academy
Government of Sri Lanka SEC
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Introduction  

Over the years, the securities market in Sri Lanka has developed extensively and it is today recognized as an efficient, and fast improving sector. Positioned at a stage of development, the market would be expected to show signs of maturity and growing professionalism so that it could be benchmarked to international standards. In order to perform at such levels, the entire capital market community has to be well aware of the standards expected by the global investing community and they should be sufficiently competent to keep abreast of new developments that take place on a continuing basis. Although there has been a significant growth in the market, it falls short behind the extent and potential that the business community may have expected it to develop. This could well be due to the dearth of necessary skills among the persons involved in the capital market operations.

In this backdrop, the Securities and Exchange Commission of Sri Lanka (SEC) took the necessary initiative to formulate a Financial Services Academy (FSA) to meet the challenge of developing the Capital Market in Sri Lanka. It is envisaged that the FSA would raise standards in the securities and financial services industry by imparting knowledge and training on practical, contemporary and innovative education, keeping in line with international standards and norms. It will also foster ethical and effective market players through advocating high levels of professional conduct in the sector.

The objective of FSA is to become a premier institute in Sri Lanka to provide professional level education related to the development of capital market. The FSA combines multifaceted approach which combines education, research and advisory services.

At its inception, the FSA focuses to offer four core programmes catered for the needs of different niches in the capital market. These programmes will be focused on Market Professionals, Listed Companies, Existing and Potential Investors and Market Institutions.

Vision

To be developed into a fully fledged regional centre in South Asia in order to carryout Financial Education, Training and Research aiming at a paradigm shift

Mission

To become the leading center of capital market education in Sri Lanka to provide professional education & training in order to enhance knowledge and skill levels of market professionals, investors, issuers and market institutions whilst facilitating research in the financial services industry


Goals & Objectives

  • To facilitate continuous professional development for the market professionals and thereby strengthen and uplift the financial sector organizations in line with the global standards

  • To enhance the awareness, interest and capability (skill level) of existing investors and potential investors regarding capital market activities to shift from a saving society to an investing society

  • Development of specialized programmes for the issuers to disseminate emerging global best practices thereby bridge the knowledge gap between domestic and global organizations

  • To organize and facilitate educational opportunities relating to emerging trends/standards and specialized on the job training programmes for regulatory staff members in the financial services industry

  • Facilitation of capital market related activities for academia and conduct of research projects: To assist development of the capital market primarily, to address areas that need research relating to market & its practitioners, existing investors & potential investors, behavioral trends of listed companies policy makers etc

  • To enhance the Information Technology solutions framework primarily to create overall efficacy within the Academy and cater to the South Asian region

  • To transform the Academy into a user friendly atmosphere providing infrastructural changes and other improvements
 
Professional Education with the FSA
 

   1. Qualification Framework for Financial Industry Professionals in Sri Lanka

The FSA has recognized the need for introducing a qualification scheme for financial industry professionals in Sri Lanka. The main purpose of this qualification frame work is to ensure that financial industry professionals have a minimum level of proficiency required for their jobs functions.  This frame work will also assist to develop a pool of candidates who are trained in fundamentals of securities markets from whom the securities industry can draw to fill various positions.  The FSA having recognized the need for a structured method of educating the financial industry professionals in Sri Lanka introduced the qualification framework for the securities market practitioners in May 2008. Click to view the Qualification Frame Work
 
  • Certificate in Capital Markets (CCM)

The first level of certification is the Certificate in Capital Markets (CCM). In order to obtain this certification, a candidate will be required to complete the following modules.

  • Equity Securities
  • Debt Securities
  • Financial Regulations & Ethics
  • Registered Investment Advisor (RIA)
  • Diploma in Capital Market (DCM)
 

   2. Qualification framework for Financial Journalists in Sri Lanka

  • Certificate in Financial Journalism
The objective of this Certificate Program is to professionally educate and train the existing Financial Journalists in the Sri Lankan context and to attract young future financial journalists to the industry, paving the way to a rewarding carrier pathway.
 
  • Advanced Certificate in Financial Journalism
 
   3. Other Activities
  • Capital Market Information Center (CMIC)

CMIC is a conduit of providing access to information pertaining to the capital markets exclusively for the Sri Lankan University system. It is an electronic data base which offers a learning environment through which market information could be disseminated. This data base would assist the University students, staff and faculty members seeking to further their understanding of the capital market for research and academic purposes and also to upgrade knowledge in investing. A wealth of information is freely available on this data base under the following categories which otherwise is only accessible to the public at a very high cost.

  • Market reports
  • Colombo Stock Exchange (CSE) Data Library
  • SEC Library
  • Seminars and Workshops
  • International Capital Markets