In addition, the Professional Conduct Program at CFA Institute is in receipt of your December 2013 CFA Program Enrollment Form, Professional Conduct Statement.  

The Professional Conduct Statement asked,

Since becoming a candidate in the CFA Study and Examination Program, have you been:

A.
The subject of, a defendant to, or respondent in any investigation, civil litigation, arbitration, or other action or proceeding in which your professional conduct, in either a direct or supervisory capacity, was at issue, or

B.
The subject of a written complaint regarding your professional conduct in either a direct or supervisory capacity?

We note that you marked, “Yes, matter currently under investigation by CFA Institute” on the Professional Conduct Statement.  According to our records you have never disclosed a professional conduct matter to the Professional Conduct Program.

Please advise, in writing, whether your “Yes” response was marked in error or if you should have checked “No” or “Yes, not previously disclosed to CFA Institute.”

In accordance with the CFA Institute Board of Governors’ established policy regarding criteria for admission into the CFA Program, the conduct disclosed by you on the Professional Conduct Inquiry form disqualifies you from participation in the December 2013 CFA Study and Examination Program.  

If you have reason to believe there are exceptional or unusual circumstances that warrant further review of your enrollment by the Professional Conduct Program, you may submit an appeal of the denial decision. If you choose to submit an appeal, it must be submitted in writing and received by the PCP within twenty (20) days from the date of this letter.   Please refer to the attached “CFA Program Applicants Appeal Q & A” for more information regarding the appeal process.  

If the PCP does not receive a written appeal of the denial decision within twenty (20) days of the date of this letter (by 19 September 2013), the denial of your CFA Program enrollment will be final and you will have waived all rights to further review of the matter by the PCP.  The appropriate application fee will be returned to you.  

You may reapply to the CFA Program when you have no disclosures (no “yes” responses) to the eight questions contained on the Professional Conduct Inquiry form.  

Thank you for your interest in the program.

Sincerely,