Certification
AMIB Certification and Registration (Second Cycle, began September 2, 2005)
A total of 23,205 applicants took the exam, and 76.59% passed, with a total of 17,773 persons certified.
Some 14,192 authorization requests were sent to the CNBV, with 13,536 obtaining authorizations. AMIB was in turn notified of the extension of 14,675 agency contracts.
AMIB also offers revalidation of certification on a point system, under which 8,402 certifications have been revalidated, while only 6,891 of the certifications have been authorized by the CNBV (437 by exam, 159 on the basis of experience and 6,295 under the point system).
Industry certification to trade and promote securities
This past year, we worked in continuous communication with AMIB Certifica to resolve the problems brokerage firms had experienced with certification and registry. Among the achievements in this area were:
The start of exam testing under the new Version 3 Certification Guide, prepared by AMIB Certifica.
Creation of the position of risk manager for mutual funds, and obligatory certification for individuals responsible for trading derivatives within mutual funds, pursuant to the Unified Mutual Funds Bulletin
Based on modifications to provisions for broker/dealers and traders, AMIB Certifica prepared a document detailing the procedure for revalidation.
The formation of a Certification and Registry Quality Group with representatives from the ABM, AMIB Certifica and representatives of the Human Resources Sub-Committee, the purpose of which is to work on designing a model that will make the certification and registry process better and more efficient.
Recognition of Institutes and Courses creditable toward AMIB Certification Revalidation
The breakdown of courses and institutes currently recognized by AMIB for crediting points toward certification revalidation, and the events confirmed for these purposes, were as follows:
Training institutes and registered financial institutions 57
Registered courses 1090
Confirmed events 3,934
Certificación relacionada con el Mercado de Derivados
To support the promotion and operation of Mexico's derivatives market, we were instrumental in:
Revalidating the certification to trade, promote, manage risks or Futures Contract accounts, through renewal on the basis of the points system.
Creating a modular exam for options contracts, that can complement any of the certification exams for professionals who wish to promote, trade, manage risks or futures contract accounts, as well for AMIB exams recognized by MexDer
Developing a new certification category for Risk Manager, and a certification for Derivative Trader for Mutual Funds.
As of December 31, 2007, 546 exams have been applied, and 352 certifications granted (a passing rate of 64.47%), since January 1, 2001, when AMIB began to administer this process.
CONSAR Certification process
Since AMIB took on responsibility for this process on July 1, 2004, and as of December 31, 2007, 459 exams have been applied and 292 certifications granted, meaning a passing rate of 63.62%.
FIRA Certification
From September 19, 2005, when AMIB took over the process, until December 31, 2007, 608 exams have been applied and 455 certifications granted, a passing rate of 74.84%.
Exchange house certification process
After creating the respective Technical Committee, a Certification Guide was prepared for foreign-exchange salesmen and traders. Ethical guidelines were also prepared for this category. In addition, test questions were developed, pilot tested and calibrated, and included in various exam models for application in the near future. The last step is to define the cutoff levels for those exams and begin applying them at the moment determined by the Exchange House Association, the institution we have engaged for these purposes.
Federal Mortgage Society Certification Process
As with the exchange house certification process, the Technical Council met twice, the second time with ABM participating through its Mortgage Committee. We now have a certification guide for mortgage agents, and we are in the process of preparing test questions to be used in generation exam models that can be applied soon.