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Experience Requirements for CFA Charter

The official CFA bylaw definition for experience is as follows:

evaluating or applying financial, economic and/or statistical data as part of the Investment Decision-Making Process involving securities or similar investments, which includes, but is not limited to, publicly traded and privately placed stocks, bonds, and mortgages and their derivatives; commodity-based derivatives and mutual funds; and other investment assets, such as real estate and commodities, if these other investment assets are held as part of a diversified, securities-oriented investment portfolio; or
supervising, directly or indirectly, persons who practice such activities; or
teaching such activities.

CFA Institute is happy to consider applications in any job that meets the functional requirements as specified in that bylaw description. Twenty standard job categories are provided as a reference to note those categories that frequently meet the experience requirement. However, selecting those categories is not a guarantee of acceptable experience, since CFA Institute also reviews the individual job descriptions and the sponsor recommendations. Many applicants do not find their relevant job category among the twenty listed categories, and experience from many unlisted job categories may also be accepted to meet the requirement. Job title or category alone cannot determine eligibility. The description is really the key determinant in deciding whether the experience is consistent with the bylaw requirement and must be corroborated by two qualifying sponsors.

We would recommend the following to prospective candidates and members. To assess professional work experience, evaluate the nature of your job responsibilities, given the bylaw definition, rather than merely the job title. Please be as descriptive as possible about your functional responsibilities when submitting your work experience. The key element in acceptable work experience is how (and whether) your job duties and decisions impact the investment decision-making process and that you spend a majority of your time in that role. In order to become a regular member, and ultimately receive the CFA Charter after passing Level III, the applicant must have four years of qualifying work experience.

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Press Release - Important Funds Conference to be held in Cayman

Grand Cayman, Cayman Islands – 5 November 2007 – Financial services providers and market experts Stuarts Walker Hersant, Cayman National International Financial Services and PricewaterhouseCoopers have joined forces to organize and co-host the first annual Cayman Islands International Funds Conference in January 2008.

The conference, which will be held on 9 January at the Ritz-Carlton Grand Cayman, has come about as a result of recent turbulence in the market, and organisers say that the event will be an occasion for regulators, institutional investors, asset managers and academics to gather and assess ramifications for both the on and offshore industries.

The keynote speaker will be Charles Flint QC, Head of Blackstone Chambers, London who will speak on the topic of FSA regulation of hedge fund managers, its impact on funds registered in the Cayman Islands, liabilities to investors arising from the breach of regulatory rule and market abuse.

Other sessions include a morning round table session featuring leading US counsel Gary Lee and Larry Engel of Morrison & Foerster and Evan Flaschen and Kurt Mayer of Bracewell & Guilianiv, who will provide delegates with a US regulatory update and address the topics of hedge funds and regulatory Scrutiny, Chapter 15 issues and insolvency proceedings outside of the United States.

Dr. Robert Froelich, Chairman of the Investor Strategy Committee at DWS Scudder, will discuss credit markets and the crisis of confidence in global finance, the effects of illiquidity in the financial markets and the over exposure of the investment markets due to overly complicated structuring before providing a projection of market trends in light of the sub prime crisis.

Industry specialists Maury Cartine of Marcum & Kliegman and David Derossa of DeRosa Research will conduct a workshop on the real issues that arise on collapse of a fund and present case studies and comments from the Cayman Islands regulator will be provided by Yolanda McCoy, Head of Investments at the Cayman Islands Monetary Authority.

For further information please contact Joyce Shaw on (345) 640 5408 or by email on Joyce.Shaw@cnifs.com.