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Monaco Takes the Lead in Financial Compliance Training with New Professional Certification Exam

In a bid to strengthen the skills of its financial sector employees and reinforce the reputation of excellence of the Financial Center, the Monaco Government has launched a mandatory professional certification program for managers, sales staff, financial analysts, trading-room operators, and other professionals working in Monegasque financial institutions.

Program Overview

The initiative was spearheaded by the Association Monégasque des Activités Financières (AMAF), which established the Professional Certification Commission to oversee the implementation of the certification. The program requires all eligible professionals to undergo a comprehensive training course comprising 44 hours of instruction spread over 11 half-days.

Curriculum

The curriculum covers two key areas:

  • Technical Subjects: Financial markets and instruments, provided by the International University of Monaco (IUM)
  • Ethical Desk Compliance Subjects: Monegasque regulatory specifics, delivered by Capital Banking Solutions

Certification Exam

The certification exam is held twice a year, with between 15 to 30 participants per session. Candidates who fail the exam have a maximum of 12 months to retake it. However, if they fail for a second time, they will be barred from exercising any of the above-mentioned functions in a bank or asset management company within Monaco.

Program Underpinning

The program is underpinned by:

  • Law n°1.338 of September 7th, 2007, amended
  • Sovereign Ordinance n°1.284 of September 10th, 2007, amended
  • Relevant regulations

Registration and Contact Information

For more information on the certification program, including registration details, professionals are advised to contact:

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