In order to assess the level of competence of those working in financial establishments in Monaco, and in order to enhance the image of professionalism of La Place, the Prince's Government has decided - following the example of many other countries - to establish a system for professional certification, which comes into force on 2 May 2014.
The Professional Certification Commission of the l’Association Monégasque des Activités Financière, - AMAF - is to be responsible for validating the results of the examination and for examining the equivalence requests provided for in the regulations.
Who does this concern?
- Financial Analysts
- Those operating Trading Desks
Two sessions are organised each year (one every six months), with between 15 and 30 participants per session.
Training involves 44 hours of classes, spread over 11 half-days, arranged in modules.
- A 28-hour technical session will be provided by the International University of Monaco (I.U.M.)
- An ethics session dealing with specific regulatory features for Monaco will be provided by "INTELLEVAL - Capital Banking Solutions Compliance Centre"
- Ministerial Order no. 2014-168 of 19 March 2014 which sets out the methods of application of article 7 2°) of Royal Edict no. 1284 of 10 September 2007 which sets out the minimum level of knowledge required by certain individuals placed under the authority of an organisation or of an establishment, and repealing Ministerial Order no 2013-209 of 12 April 2013.
- Regulations (.pdf 390 Kb) + Appendices (.pdf 390 Kb) see AMAF Note 108/04/2014