CFA Institute Marks 50th Anniversary of the CFA Charter
| May 30,2012 06:19 pm IST
CFA Institute, the global association of investment professionals that sets the standard for professional excellence, celebrates 50 years of the CFA charter through global market ceremonies around the world on May 29. This represents the greatest number of stock exchanges worldwide opened or closed by one organization on a single day.
The ceremony will set the stage for the weekend, when more than 149,000 registered candidates from 168 countries will take the Level I, II and III of CFA exams on June 2 and 3. The events usher in a year of celebration for CFA Institute, which offered the first CFA exam in June 1963.
The CFA charter sets the standard for investment practice and is a globally recognized benchmark for ethics in the profession. Following the first exam, 268 investment professionals were awarded the CFA charter. Nearly 50 years later, there are more than 100,000 charterholders in 137 countries and territories representing the highest professional standards and competencies in the global investment community. To acquire the CFA charter, one must pass all three levels of CFA exams, have four years of qualified investment work experience, and agree to adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.
There is no better way to celebrate the success and international impact of the CFA Program than with a global event of this magnitude, said John D. Rogers, CFA, president and CEO of CFA Institute. The CFA Program has grown tremendously since the very first exam, expanding to more than 100,000 CFA charterholders who practice the highest level of professional and ethical standards. The financial industry has faced many challenges since the inception of the program, and Im proud of the impact CFA Institute continues to have on ethics, education and excellence in the profession.
The Opening Bell Ceremony in India was undertaken today at the Bombay Stock Exchange at 9:15 a.m., in presence of the guest of honor, Mr. Ashishkumar Chauhan, Interim Chief Executive Officer, Bombay Stock Exchange. Commenting on the ceremony and the milestone of CFA Institute, Mr. Chauhan, said:
'BSE is pleased to offer its support and congratulate the Institute on their completion of a half-century. The institute has played a major role in the upbringing and development of finance and investment experts across the globe. The Indian capital market is a constantly evolving place and the participants must continuously update themselves to benefit from these changes. As the private sector and government work towards instituting a robust and sustainable investment climate and investor culture, we all acknowledge that there are still lots of work to be done. BSE is proud to host the bell ringing ceremony which is being conducted simultaneously in 26 other main bourses across the world.'
Mr. Sunil Singhania, CFA, Head - Equity Investments, Reliance Capital Asset Management Ltd., and President of Indian Association of Investment Professionals (IAIP), said, The CFA Program completes a rich history of 50 golden years, and it is a privilege to be associated with this prestigious heritage. To be a part of the global celebration, IAIP will join many societies worldwide for a year-long celebration across the world, beginning with this bell ringing ceremony at the Bombay Stock Exchange.
CFA Institute and its member societies around the world are hosting market opening or closing ceremonies in conjunction with the following stock exchanges:
1.Athens Stock Exchange (ATHEX)
2.Amman Stock Exchange (ASE)
3.Amsterdam Stock Exchange (AEX)
4.Bahrain Bourse (BHB)
5.Bombay Stock Exchange (BOM)
6.Brussels Stock Exchange (BRU)
7.Budapest Stock Exchange (BSE)
8.Bucharest Stock Exchange (BUC)
9.Bulgaria Stock Exchange (BUL)
10.Colombo Stock Exchange (CSE)
11.Dubai Financial Markets (DFM) and NASDAQ Dubai
12.Egyptian Exchange (EGX)
13.Hong Kong Stock Exchange (HKEX)
14.Kuwait Stock Exchange (KSE)
15.London Stock Exchange (LSE)
16.Mauritius Stock Exchange (MAU)
17.Mexican Stock Exchange (MSX)
18.Moscow Stock Exchange (MICEX)
19.Nairobi Stock Exchange (NSE)
20.New Zealand Exchange (NZX)
21.New York Stock Exchange (NYSE)
22.Paris Stock Exchange (PAR)
23.Prague Stock Exchange (PSE)
24.Singapore Exchange (SGX)
25.Toronto Stock Exchange (TSX)
CFA Institute traces its roots to the establishment of the Financial Analysts Federation (FAF) in 1947, following the call for a financial analyst certification by industry giant Benjamin Graham in 1942. FAF leaders created the Institute of Chartered Financial Analysts in 1959 to administer the CFA Program, and the two organizations merged in 1990 to form what is now CFA Institute.
The original CFA Program focused on equity security analysts in a U.S. setting and emphasized ethical and professional standards. Today, the CFA Program represents a global context, and covers topics such as fixed-income analysis, alternative and derivative investments and portfolio management.
CFA Institute recently kicked off the 50th Anniversary celebrations at its Annual Conference, where it issued a call to action to the global investment community with its Integrity List, a collection of tangible steps that investment professionals can take to restore trust in the industry.