As one of the requirements to earn the Chartered Financial Analyst charter, you must apply to become a regular member of both CFA Institute, formerly the Association for Investment Management and Research (AIMR), and a local society. However, CFA Institute membership - and the package of benefits that accompanies it - is available to you as an investment-industry professional, even if you do not hold the CFA charter.
To determine whether you qualify for CFA Institute Regular or Affiliate membership, please read the CFA Membership Requirements.
The Luxembourg CFA Society has set no stricter requirements than CFA Institute to become a Regular or Affiliate Member, i.e. if you fulfill CFA Institute requirements for either type of membership, you will automatically fulfill the requirements of our Society.
The benefits of joining CFA Institute and our Society already as a CFA Program candidate lie in the availability of a vast library of publications and webcasts, the accessibility of professional development activities like conferences, as well as the networking possibilities among investment industry participants. Membership in a local society offers you contacts to the local investment community, participate in the Society´s activities to promote the CFA Institute´s mission in Luxembourg, follow its advocacy work and join the professional development activities.
To apply, complete the membership application and have the sponsor forms completed appropriately.
Become a Member of the Luxembourg CFA Society
The classes of members in the Society are Regular Members, Affiliate Members, and Retired Members.
Regular Member. To become a Regular Member of the Society, an individual shall:
1. be a Regular Member of CFA Institute; and
2. fulfill such other requirements as the Society may impose consistent with the requirements established by CFA Institute.
Both CFA Institute and a society must agree to accept an applicant as a Regular member. In the event of a discrepancy, CFA Institute makes the final determination for Regular membership status.
Affiliate Member. To become an Affiliate Member of the Society, an individual shall:
1. Agree to adhere to and sign the Member’s Agreement and Professional Conduct Statement, and
2. fulfill such other requirements as the Society may impose consistent with the requirements established by CFA Institute.
Member Responsibilities.
Each Regular Member and Affiliate Member of the Society shall:
1. adhere to all applicable rules and regulations of the Society and of CFA Institute, including but not limited to their Articles of Incorporation, their Bylaws, the Code and Standards, and other rules relating to professional conduct and membership, all of which may be amended from time to time;
2. be subject to the disciplinary jurisdiction and sanctions of the Society and CFA Institute;
3. submit information relating to professional conduct and activities as the Society or CFA Institute may request;
4. produce documents, testify, and otherwise cooperate in disciplinary proceedings of CFA Institute and adhere to such other applicable requirements as set forth from time to time by CFA Institute and the Society; and
5. maintain membership In Good Standing with CFA Institute. “In Good Standing” refers to a member who has paid all applicable CFA Institute dues in full, has submitted a Professional Conduct Statement to CFA Institute, and is not currently the subject of a Formal Proceeding or Disciplinary Sanction, as provided in the CFA Institute Bylaws.
Application for Membership. Any individual applying to become a Regular Member or an Affiliate Member of the Society shall file with CFA Institute and the Society an application for membership, along with additional information or documents as required by CFA Institute and the Society. The Board of Directors shall have the right to review all applications for membership in the Society. In the event of disagreement concerning administration or interpretation of the CFA Institutes requirements of Regular Members and Affiliate Members, the Society shall have the right to appeal to the CFA Institute Board of Governors. The CFA Institute Board of Governors, or a designated committee thereof, shall have the authority to make final determinations on the application of membership provisions. Any individual applying for another class of membership shall follow such procedures, as the Board shall establish from time to time.
Voting Rights. Regular Members In Good Standing have voting rights in the Society and each Regular Member In Good Standing shall be entitled to one (1) vote on each matter submitted to the Regular Members. Affiliate Members and other members do not have voting rights in the Society.
Dues. Any member who fails to pay annual Society membership dues in full shall be automatically suspended from membership in the Society. When payment is made in full, such member shall be automatically reinstated.
The CFA Institute Member Year runs from 1 July to 30 June. Society dues rates are billed by CFA Institute upon acceptance. The annual dues rate of the Luxembourg CFA Society is currently EUR 50,--. For more detailed information on dues payment, please refer to the CFA Institute website.
Resignation. Any member may at any time cease to be a member of the Society by submitting a notice of resignation to the Society President or Secretary. Such resignation shall be effective on receipt, or the date specified, and acceptance thereof shall not be necessary to make it effective unless it so states. The Society shall notify CFA Institute of the resignation of any Regular Member or Affiliate Member from the Society.
Suspension or Revocation of Membership. One’s membership in the Society may be suspended or revoked at any time for any violation of the Member Responsibilities. In the case of Regular Member and Affiliate Members, membership in the Society shall be suspended or revoked if his membership in CFA Institute is suspended or revoked. A member whose membership is revoked or suspended shall not be entitled to any rights or privileges of membership. The decision to revoke a member is taken by the assembly of members (quorum 2/3 of the members) at the simple majority of the votes of the attending members.
Retired Member Status. A member may become a Retired Member of the Society if he:
1. has been a Regular Member or Affiliate Member of CFA Institute for five years;
2. is no longer substantially engaged in professional activities which would qualify as Acceptable Professional Work Experience;
3. completes an application provided by the Society.
“Acceptable Professional Work Experience” includes, as it relates to applicants seeking to become Regular Members , activities that consist to a majority extent of:
1. evaluating or applying financial, economic and/or statistical data as part of the investment decision-making process;
2. supervising, directly or indirectly, persons who practice such activities; or
3. teaching such activities.
The investment-decision making process is the professional practice of financial analysis, investment management, security analysis, or similar activities.