Briefing Session on TMA's New Professional Qualification Framework & Code of Conduct & Practice
The Executive Board of the Association has recently approved the new Professional Qualification Framework (PQF) and membership structure as proposed by the Professional Membership Committee. There will be 4 membership classes introduced: Associate Member, Full Member, Fellow Member and Honorary Member. The TMA will also launch new education programmes under its PQF with a view to further enhancing professional standard of treasury market practitioners. The new PQF is expected to be implemented in the third quarter of 2011.
TMA Code of Conduct and Practice
The Code of Conduct is intended to promote a high standard of business conduct and good market practices by setting out the minimum standards which institutions should follow in their treasury market activities. The Code of Conduct also seeks to facilitate market efficiency and minimise disputes between counterparts.
The TMA intends to issue the Code of Conduct by the end of the second quarter of 2011 and all TMA Institutional and Individual members are required to observe and comply with the Code of Conduct. Moreover, there is an explicit reference to the Code of Conduct in the draft module on Competence and Ethical Behaviour (which has been issued by the Hong Kong Monetary Authority under the Supervisory Policy Manual on 11 January 2011 for consultation) as the best practice applicable to treasury markets in Hong Kong.