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News November 15, 2004 Issue

NRS, NSCP Each Announce Compliance Credentialing Programs

Compliance officers looking for professional accreditation suddenly have not one, but two places to turn.

Last month, consulting firm National Regulatory Services announced the formation of its new "Center for Compliance Professionals." The Center, a division of NRS, will administer a new certificate program designed for compliance professionals at advisory firms. According to NRS, the program is designed to "formalize and standardize the knowledge, skills, abilities and ethical commitment of investment advisory compliance professionals." Required courses will instructed and facilitated by NRS experts as well as outside legal, regulatory, academic and compliance professionals. Upon completing the programís requirements, an individual will receive the designation of "Certified Compliance Professional: Investment Adviser," or CCP:IA.

Not to be outdone, two weeks after NRSís announcement the National Society of Compliance Professionals announced a credentialing program of its own. According to executive director Joan Hinchman, the groupís board of directors decided to launch a certification program involving the creation of standards for compliance professionals and a "reliable and fair" examination process. NSCP will be involved in communicating the value of the credential to employers and others. As a first step in the process, the board formed a committee to develop a course of studies for the program.

Hinchman noted that NSCP is "the only non-profit organization representing the securities industry compliance professional exclusively" and "answers to no other master." NSCP, she said, "may be the only organization in a position to develop certification credentials that stand a chance in gaining universal recognition."

NSCP has invited its members, as well as the public, to comment on the announcement via e-mail to: