CFA Institute
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CFA Institute
CFA Institute Logo.png
AbbreviationCFAI
Formation1947
TypeNon-profit[1]
PurposeFinance
HeadquartersCharlottesville, Virginia, United States
Coordinates38°1?55.64?N 78°28?18.1?W / 38.0321222°N 78.471694°W / 38.0321222; -78.471694Coordinates: 38°1?55.64?N 78°28?18.1?W / 38.0321222°N 78.471694°W / 38.0321222; -78.471694
Region served
Worldwide
Membership
178,000 (2019)
Official language
English
Diane Nordin, CFA
Marg Franklin, CFA
Main organ
Financial Analysts Journal
Revenue
Increase USD $393.88 million (2019)
ExpensesIncrease USD $372.54 million (2019)
Staff
633 (2019)
Websitewww.cfainstitute.org
Formerly called
Association for Investment Management and Research (AIMR)
[2]

CFA Institute is a global, not-for-profit professional organization that provides investment professionals with finance education. It aims to promote the standards in ethics, education, and professional excellence in the global investment industry.[3]

The organization offers the Chartered Financial Analyst (CFA) designation, the Certificate in Investment Performance Measurement (CIPM), the Certificate in ESG Investing, and the Investment Foundations Certificate. It provides continuing education conferences, seminars, webcasts, and publications to allow members and other participants to stay current on developments in the investment industry. CFA Institute also oversees the CFA Institute Research Challenge for university students and the Research Foundation of CFA Institute.[4][5]

CFA Institute is headquartered in Charlottesville, Virginia, USA, with additional offices in New York City, Washington, D.C., London, Hong Kong, Mumbai, Beijing, Shanghai and Abu Dhabi.[6]

History

In 1947, four financial analyst societies--Boston, Chicago, New York, and Philadelphia--cooperated for the purpose of promoting the exchange of ideas and supporting the welfare of their profession. In 1962, some of these financial analysts created the Chartered Financial Analyst (CFA) designation and established a code of conduct. In 1963, the profession was formalized when 284 candidates sat for the first CFA exam and 268 CFA charters were awarded.[7][8] In 2004, the Association for Investment Management and Research voted to change its name to the CFA Institute.[9]

In February 2019, The United States Department of Justice announced it will fine CFA Institute more than $320,000 for discriminating against qualified American workers by hiring temporary foreign workers through the H-1B visa program.[10]

Given the COVID-19 pandemic, CFA Institute has cancelled the majority of the examinations around the world due to the lack of examination facilities in 2020. From 2021 and onwards, all examinations will be shifted to computer-based testing for the three levels of the CFA program.[11][12]

In March 2021, CFA Institute launched the Certificate in ESG Investing due to the increasing importance of environmental, social and corporate governance (ESG) factors in socially responsible investing.[13]

Historical logo

See also

References

  1. ^ Huang, Daniel (10 June 2014). "CFA Institute Chief Departs After Disclosing Relationship" – via Wall Street Journal.
  2. ^ "Annual Report - Fiscal Year 2019". Annual Report - Fiscal Year 2019. CFA Institute. Retrieved 2020.
  3. ^ Kagan, Julia. "CFA Institute". Investopedia. Dotdash. Retrieved 2020.
  4. ^ "CFA Institute Research Foundation". CFA Institute. Retrieved 2019.
  5. ^ "Research Challenge". CFA Institute. Retrieved 2019.
  6. ^ "Office Locations". CFA Institute. CFA Institute. Retrieved 2020.
  7. ^ "From Practice to Profession: A history of the Financial Analysts Federation and the investment profession" (PDF). Archived from the original (PDF) on 2016-06-16. Retrieved .
  8. ^ "CFAI Annual Report 2018". CFA Institute. 2018. Retrieved 2019.
  9. ^ "AIMR Changes Name to CFA Institute : Educalc.net". Archived from the original on 2017-10-06. Retrieved .
  10. ^ Binder, John (2019-02-27). "DOJ Fines Virginia Firm for Hiring Foreigners over Qualified Americans". U.S. Tech Workers. Retrieved .
  11. ^ Chen, Elaine. "CFA schedule is disrupted again with December exams canceled". BNN Bloomberg. Bell Media. Retrieved 2020.
  12. ^ "Updated: Credentialing bodies move exams online". Investment Executive. Newcom Media Inc. Retrieved 2020.
  13. ^ Nauman, Billy (15 March 2021). "CFA offers certification in sustainable investing". The Financial Times Ltd. Financial Times. Retrieved 2021.

External links


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

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