The CFA Institute is a global, not-for-profit professional organization that provides investment professionals with finance education. The institute aims to promote standards in ethics, education, and professional excellence in the global investment services industry. Since 1945, the institute has published the peer-reviewed , quarterly journal, the Financial Analysts Journal . It also publishes the Enterprising Investor blog.
8-505: The institute currently two credentials, seven certificates, and one course. The CFA designation remains its flagship designation program: 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
16-469: Is an annual global competition in equity research hosted by the CFA Institute started in 2007. The competition provides university students with hands-on training and mentoring in financial analysis. Students assume the role of a research analyst and are scored based on their ability to value a stock, write an initiation-of-coverage report, and present their recommendations. The competition
24-530: Is split by 3 geographical regions, Asia Pacific , EMEA , and the Americas . Both undergraduate and graduate students are eligible to participate. Teams begin in local competitions, from which winners advance to regional competitions. A final competition held in April identifies the winning team at the global level. For 2019, more than 6,100 students from over 1,150 universities from 95 countries participated in
32-503: The Chartered Financial Analyst (CFA) designation and code of conduct were established. In 1963, the profession was formalized when 284 candidates sat for the first CFA exam and 268 CFA charters were awarded. The following year, all 3 levels of the exam were administered to more than 1,700 candidates. The Association for Investment Management and Research (AIMR) was founded in 1990 as the umbrella organization for
40-621: The CFA Research Institute Foundation. CFA Institute is headquartered in Charlottesville, Virginia , with additional offices in New York City , Washington, D.C. , London , Hong Kong , Mumbai , Beijing , Shanghai and Abu Dhabi . The current President and CEO is Margaret Franklin . In 1947, four financial analyst societies— Boston , Chicago , New York , and Philadelphia — cooperated for
48-872: The H-1B visa program. 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 onwards, all examinations were shifted to computer-based testing for the three levels of the CFA program. 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 . CFA Institute Research Challenge The CFA Institute Research Challenge
56-661: The ICFA and the FAF, still separate entities at that time. ICFA and the FAF consolidated under AIMR in 1999. In 2004, the Association for Investment Management and Research voted to change its name to the CFA Institute. 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
64-694: The purpose of promoting the exchange of ideas and supporting the welfare of their profession, calling the new group the National Federation of Financial Analysts Societies (NFFAS). In 1959, the NFFAS Board of Directors approved the establishment of the Institute of Chartered Financial Analysts (ICFA), which was incorporated in 1962. NFFAS changed its name to the Financial Analysts Federation (FAF) in 1961. In 1962,
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