CFA Institute


CFA Institute is a global association of investment professionals.
The organization offers the Chartered Financial Analyst designation, the Certificate in Investment Performance Measurement designation, and the Investment Foundations Certificate. 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 the Research Foundation of CFA Institute.
CFA Institute offices are located in New York City, London, Hong Kong, Mumbai, Beijing, Abu Dhabi, Shanghai and Charlottesville, Virginia, USA.

History

In 1947, four financial analyst societies—Boston, Chicago, New York, and Philadelphia—cooperated for the purpose of promoting the exchange of ideas and supporting the welfare of their profession. In 1962, some of these financial analysts created the Chartered Financial Analyst designation and established a code of conduct. In 1963, the profession was formalized when 284 candidates sat for the first CFA exam and 268 CFA charters were awarded. In 2004, the Association for Investment Management and Research voted to change its name to the CFA Institute.
Since then, almost 200,000 CFA Charters have been awarded. CFA Institute has more than 165,000 members in 164 markets, and 158 local member societies.
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 the H-1B visa program.

Member societies

The largest CFA Institute member societies are:
Florida has the largest number of societies, followed by California and Ohio with five each. The oldest society, which was founded in 1925, is in Chicago. The newest society, which was admitted in August 2012, is in Nigeria.