How to Apply for Chartered Institute of Stockbrokers: Membership Requirements

Career & Training

May 3, 2022

How to Apply for Chartered Institute of Stockbrokers: Membership Requirements

How to Apply for Chartered Institute of Stockbrokers: Membership Requirements. In fact, there are so much opportunities becoming a member of Chartered Institute of Stockbrokers in Nigeria. Are you interested? Do you want to find our all the requirements for membership? Then, read on.

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As a matter of fact, the Chartered Institute of Stockbrokers (CIS) is the only body in Nigeria empowered to conduct qualifying examinations for professional Securities & Investment practitioners. So, it provides guidelines for qualifications as Stockbrokers, Securities Dealers, Financial & Investment Analysts, and Portfolio & Fund Managers.

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Membership Categories – How to Apply for Chartered Institute of Stockbrokers: Membership Requirements

In fact,tThe Chartered Institute of Stockbrokers is the leading professional body for Securities & Investment practitioners. Over 2,000 members currently benefit from the professional program of events, with continuing professional development (CPD). This is the heart of the Institute’s values and policies.

As a matter of fact, there are five categories of CIS membership. These are Student, Graduate, Associate, Honorary Fellows and Fellows. Following are their brief explanations.

Students:

Student membership is the entry level position. This is for individuals who want to be stockbrokers and are undertaking CIS qualifications exams. This is because student membership confers eligibility to sit the CIS exam. However, student members cannot hold office or vote in the Council election.

As a matter of fact, these programs have indeed opened the doors of opportunity to millions of aspiring and promising Nigerians looking for global opportunities and right career progression in Securities & Investments profession.

Graduates:

Graduates are individual students who have successfully completed the examinations or equivalent but have not satisfied the conditions for admission as associates into the full membership grade of the Institute. In most case, they re those yet to be inducted as members.

This set of members may participate in some activities of the Institute but they cannot hold office or vote in the Council election. In fact, these graduates re not entitled to use any designatory letter like ACS.

Associates (ACS):

Associates are the first level of full members. They re authorized to use the designatory letter of ACS. ACS stands for Associate of the Chartered Institute of Stockbrokers.

Asa matter of fact, Associate membership is granted to individuals who’ve completed the examinations or equivalent and have at least three-years relevant experience in the financial services industry. In fact, one of such qualifications must be after completing the examinations.

Procedure for Associate Membership Upgrade

As a matter of fact, you need to log in to the online Membership Application form or download the Associate Membership Application Form to apply. Alternatively, the applicant may collect the application form from the office and complete every part of it with the usage of “Not Applicable” where necessary.

All required supporting documents to be submitted must be sighted by a referee. Again, it is important to note that approval of such applications by the Council of the Institute is subject to satisfying all the necessary requirements. Induction of new Associates takes place during the Annual Stockbrokers’ Conference in October of every year.

Requirements

Applicants must be in good financial standing with the Institute.
Completed Application Form (recommended by two member-referees in good financial standing).
Two attestation letters from the current and any of your previous employers.
Detailed Curriculum Vitae (CV) and three passport photographs with white background (size must be 2×2 inch (51х51 mm), minimum of 150dpi.
Evidence of completing the Institute’s professional examinations – CIS Final Statement of Result or Dealership/Clerkship Certificate.
Payment Evidence of ₦200, 000 for the application form, plaque and seal, Current year Annual Subscription & Pre-induction Seminar. In addition, all outstanding balances should be paid.

Fellows (FCS):

Fellowship status is our highest category of membership. As a matter of fact, Associates of at least five years standing may be elected as Fellows. However, this is subject to other requirements for Fellowship determined from time to time by the Council.

Furthermore, these members re authorized to use the designatory letter of “FCS” . FCS stands for Fellow of the Chartered Institute of Stockbrokers.

Procedure for Fellowship:

You have to log into the online Fellowship Application form or download the Fellowship Application Form. Alternatively, the you may collect the application form from the office and complete every part of it with the usage of “Not applicable” where necessary.

Again, Associates of at least 5years standing may be elected Fellows. And, again, approval of such applications is subject to satisfying all the necessary requirements for Fellowship as determined from time to time by the Governing Council of the Institute. As a matter of fact, the Investiture of fellows usually takes place later in the year during the Annual Awards & Dinner night

Requirements:

Must be Associates for 5 years and should have spent 10 years as a graduate of the Institute.
Completed Application Form (recommended by two member-referees in good financial standing who must be fellows of the Institute and one of which must be a Council member).
Detailed Curriculum Vitae (CV) and three passport photographs with white background.
Copies of Associate and Dealership/Clerkship Certificates.
Evidence of payment of ₦260, 000 which comprises application form, plaque, and Investiture fees.
Evidence of payment of Annual Subscription.

Honorary Fellows ( FCS (Hon.):

Furthermore, individuals who, in the opinion of the Council of the Institute, have distinguished themselves and made immense contributions to the profession of the securities and investment industry re the ones awarded Honorary Fellowship

Now, Read Also in relation with How to Apply for Chartered Institute of Stockbrokers: Membership Requirements

These will help you decide which profession to belong to. On the other hand, it will help you compare and have knowledge of the conditions in other professions.

List of Professional bodies in Nigeria
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Chartered Institute of Bankers of Nigeria;
The Chartered Institute of Stockbrokers
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How to Apply for Chartered Institute of Stockbrokers: Membership Requirements

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