The Minister for Financial Services & Regulation, Joe Hockey, today approved funding for the Securities Institute of Australia to implement technology based projects that aim to raise educational standards of the Australian securities industry.
The Minister has approved an Australian Stock Exchange request for the release of $1,315,000 over three years from the Securities Industry Development Account, to fund the projects.
"Australia already has outstanding educational standards in the financial markets. This initiative aims to boost these standards even further. It shows that Australia is serious about becoming the global financial centre in the Asia region," the Minister said.
"The Securities Institute of Australia has a strong track record in providing educational services, fostering ethical standards, and pursuing high levels of professional conduct within the securities industry.
"The use of computer-based technology to deliver some of the Securities Institute of Australias products and services will enhance its ability to provide accessible, flexible services to educate participants in the securities industry, regulators and the investing public.
"Education plays an important role in enhancing the awareness and understanding of the financial sector, and is vital for developing Australia as a centre for global financial services."
The Securities Institute of Australia plans to implement the following projects over three years:
- the delivery of training and education programs and services using the internet;
- the development of stand-alone computer-based training and teaching aids;
- the development of a modern website to become an gateway for information about the securities industry, finance and investment products, market participants; and,
- the set up of an assessment service for the securities industry.