VIEWS: 46 PAGES: 4 POSTED ON: 11/12/2011
CFA South Africa Monthly Newsletter for Chartered Financial Analysts Issue 5 August, 2010 CFA South Africa: (From left) Marco Efstathiou, Ann Marie Wood, Elbie Louw, Arthur Thompson & Larry Raff at the Level III Exam Luncheon held in Sandton, Johannesburg in July, 2010. Annual Investment Conference to Seek Ways for Rebuilding Trust after Financial Crisis Worldwide, trust in the investment profession deteriorated significantly because of the financial crisis, says not-for-profit professional society Chartered Financial Analysts (CFA) South Africa President Arthur Thompson. Rebuilding this trust is the greatest challenge facing the industry today. “One of the best ways to do this is emphasising the highest standards of ethics and best standards of practice,” he adds. To address these concerns, CFA South Africa, in cooperation with the Gordon Institute of Business Science (GIBS) will be providing the local investment industry with the opportunity to learn from local and international practitioners at the fourth annual CFA South Africa Investment conference. The conference, Recover, Rebuild, Refocus – Strategies for an Uncertain Future, will be held on 27 and 28 September 2010, at the GIBS campus in Johannesburg. The conference will deal with practical ideas that investment professionals can apply in their strategic investment decision-making process. It will also provide a positive and practical learning experience for local investment professionals. Ethics and Standards of Practice are at the core of the programme – addressing the critical industry need to restore the trust of clients. Surrounding this central theme are presentations focused on the local investment environment, opportunities and constraints as well as behavioural finance and black swans. OTHER CFA PUBLICATIONS Topics covered include: CFA LEVEL III LUNCHEON, JULY 2010 Medium-term economic perspectives locally and globally: New rules, new paradigms, new imperatives; Driving foreign investment into South Africa and Africa; The past, present and future of emerging markets: Growth prospects, opportunities and constraints; Regulatory and ethical issues; Lessons and legacies of the financial crisis; Energy trends: Worldwide and locally; Behavioural finance: The nine faces of decision-making; and Black swans and market timing. “We are currently entering the most important time for the finance and investment industry to cooperate, find and discuss solutions to create a sustainable financial environment to rebuild the world’s economy,” Thompson concludes. TO ATTEND THE EVENT: RESERVATIONS: www.gibs.co.za/conferences/cfa2010 CONTACT: Liezl Knoll, Conference Manager Tel: +27 11 771 4000 Email: firstname.lastname@example.org CFA INSTITUTE EXAMS 139 900 Candidates Enroll For June 2010 CFA Institute Exams “To earn the CFA Charter, candidates must sequentially pass three six‐hour exams …” CFA Institute Announces June 2010 Worldwide CFA Exam Results Forty‐two percent of 111,731 CFA candidates from 160 countries pass CFA Institute has announced that 42 percent of 111 731 skills to succeed in today’s competitive world of current and aspiring investment professionals worldwide investing and finance,” said John Rogers, CFA, passed the June 2010 CFA exams, bringing them one step President and CEO of CFA Institute. “Employers, institutional and individual investors, closer to earning the distinguished CFA Charter. and regulators alike see great value in the heart of the To earn the CFA Charter, candidates must CFA Programme – financial education and sequentially pass three six‐hour exams that are widely professional ethics training. Investors know that when considered to be among the most rigorous in the working with a CFA Charterholder, they are working investment profession. The 2010 exams were given at 255 with a serious investment professional who is also a test centres in 185 cities worldwide. In the Europe, Middle trusted advisor.” East, and Africa region 42 percent of the 25 311 total exam CFA Institute has administered more than one million exams since the inauguration of the CFA candidates passed. A total of 1 533 candidates wrote the Programme in 1963. “Candidates’ participation in the exam in South Africa. CFA Programme continues to be largely driven by "We would like to congratulate all the successful Level word‐of‐mouth, which is a great testament to the value III candidates in South Africa for exhibiting skill, knowledge the investment industry places in the CFA credential,” and tenacity with this achievement. As investment said Tom Robinson, CFA, managing director of professionals and prospective CFA Charterholders, we education for CFA Institute. wish them well as they continue to contribute to the “This year’s exam results are similar in the aggregate to the recent ten‐year average. It is investment profession in an ethical manner, maintaining important to keep in mind that exam pass rates are the integrity of the profession and Charter alike. We are based on a standard‐setting process that considers looking forward to welcoming them as members of the local what a qualified candidate needs to know to practice society, CFA South Africa, as well as the global in the current environment, rather than a set passing organization,” says Elbie Louw, CFA, incoming President score or rate. of CFA South Africa and Senior Lecturer in the Department While pass rates in the last decade are lower of Financial Management at the University of Pretoria. than in the early decades of the programme, there is a much larger pool of candidates pursuing the She adds, "As the Level III Exam of the CFA designation and today’s capital markets are more Programme is partly open-ended questions (whereas Level complex. Investment professionals’ need a high level I and II is only multiple choice and item set respectively), of proficiency to practice in today’s environment and Level III requires candidates to, not only be knowledgeable, this is reflected in the rigorous standard‐setting but to be articulate - all traits required by the industry. The process.” CFA Institute Standards of Practice, as in Level I and II, Those who passed the Level III exam – 9,880 forms part of the Level III curriculum and is fundamentally candidates − will begin receiving their CFA Charters in early October 2010. Just as earning the CFA Charter important as candidate and member." shows that an investment professional is committed to “The CFA designation continues to attract individuals a higher standard, hiring a CFA Charterholder globally who want to enhance their knowledge and signifies that a firm is, too. Employers and media around the world recognise the CFA Charter as the exemption from the analysis portion standard of professional excellence, and, with such widespread recognition, (Series 86) of the Research Analyst CFA Charterholders earn a significant competitive advantage for international Qualification Exam for certain employment. CFA Charterholders are typically employed by investment applicants who have passed Level II of companies, mutual funds, broker‐dealers, investment banks, and as private the CFA exam. wealth managers. Regulators around the world also recognise the value of the CFA charter. Nearly all U.S. State securities commissions grant CFA June 2010 Exam Results by Region Charterholders an exemption to their licensing exams for investment advisers By region, the pass rates for the Level and investment adviser representatives. The NYSE and FINRA provide an I, Level II, and Level III exams combined are: • The Americas: 43 percent of the 40 830 total exam candidates • Europe, Middle East, and Africa: 42 percent of the 25 311 total exam candidates • Asia and Pacific Asia: 40 percent of the 45 590 total exam candidates Examples of countries and territories with the largest number of candidates that took a CFA exam are United States (29 873), Mainland China (12 674), India (9 871), Canada (8 991), United Kingdom (7 373), Hong Kong (6 190), Singapore (3 598), Germany (1,771), Switzerland (1 570), and South Africa (1 533). CFA SOUTH AFRICA Ann Marie Wood ABOUT CFA INSTITUTE Phone: +27 11 791 0105 CFA Institute is the global association for investment professionals. It administers the Fax: +27 11 791 0107 CFA and CIPM curriculum and exam programs worldwide; publishes research; conducts Email: email@example.com professional development programs; and sets voluntary, ethics-based professional and Website: www.cfa.ac.za performance-reporting standards for the investment industry. CFA Institute has nearly 100,000 members, who include the world’s 87,500 CFA Charterholders, as well as 137 affiliated professional societies in 58 countries and territories. More information may be ADDRESS found at www.cfainstitute.org Executive Office: Unit 2, West Square 407 West Avenue Ferndale ABOUT CFA SOUTH AFRICA Johannesburg CFA South Africa, an affiliate of CFA Institute, serves the investment community of Southern Africa by promoting the highest standards of professional excellence and Communications: integrity. In our mission to promote global-best-practice, CFA South Africa supports the Leandi Cameron CFA Code of Conduct & Standards of Practice and the Chartered Financial Analyst (CFA) Cell: +27 71 606 5553 Program. CFA South Africa members are principally investment and financial service Email: firstname.lastname@example.org professionals, academics, and regulators. CFA South Africa is a non-profit organisation Website: www.moonwritecreations.com that seeks to be financially sustainable. CFA South Africa is a society formed under the auspices of the CFA Institute, Charlottesville, Virginia, USA. CFA and Chartered Financial Analyst are registered trademarks Directors of CFA South Africa: TB Berry, CFA AC Canter, CFA, PJ Knibbs, CFA, E Louw, CFA, L Raff, CFA AD Thompson, CFA, NL Waisberg, CFA, M Efstathiou,CFA, NJ Suliaman, CFA, Executive Officer: Ann Marie Wood, CFA.
Pages to are hidden for
"CFA South Africa CFA South"Please download to view full document