Executive Update suspicious, local, suspicious, local

invic

Did I read this correctly? All the propsed changes to the bylaws, which many local chapters vehemently opposed, were all passed? Seems suspicious to me.

jarobi04

...and this is on the 150th anniversary of the Civil War. someone didn't do their homework.

Walex

FIresearch Wrote:
-------------------------------------------------------
> Did I read this correctly? All the propsed changes
> to the bylaws, which many local chapters
> vehemently opposed, were all passed? Seems
> suspicious to me.


That and the fact that they are pushing ahead with the CFA-lite qualification, despite the fact I couldn't find anyone who supported it.

random_walker47

That is bullsh!t. Is there some silent robot majority within the CFA membership ranks who just rubber stamp whatever garbage CFAI tells them to vote for?

What's next, honorary charters for a one time payment of $500 plus ongoing membership dues?

comp_sci_kid

There is no way all of those changes could have passed. Something seems fishy. The new CFA-Lite is sure to water down the charter. Anything in the name of money. How about just pushing a new book or set of books?

dyga

Do you have a link? I don't see it on the CFAI website under media or publications.

BC_MBA_student

Flowbe,

It was disclosed in an email. You probably need to be a regular member in order to be on the distribution list.

d2rockstar

This is the excerpt

NEW FUNDAMENTALS CERTIFICATE
The post-financial-crisis landscape continues to evolve and CFA Institute is seeking new ways to serve the investment profession in this environment. Based on your feedback, market research, and conversations with many stakeholders, we are moving forward with the development of a global program that will train entry-level participants and support staff in the fundamentals of investments. By providing this educational opportunity to more members of the industry, CFA Institute will better fulfill its mission of leading the investment industry in ethics, education, and professional excellence. The program also will serve our members by increasing the professional excellence at their firms.
To measure demand for entry-level education, we asked CFA Institute members some key questions through our annual member survey, which was completed in May. The results are clear: 68 percent of respondents believe that it’s important for employees not directly involved in the investment decision-making process to increase their knowledge of the fundamentals of investments. Further, more than half of respondents would be likely to recommend a CFA Institute fundamentals certificate program to their colleagues.

As currently planned, the program will be aimed at individuals who do not wish to pursue or are at least several years from being ready to begin the CFA Program. There will be no connection between the certificate program and CFA Institute membership or the CFA designation, and certificate recipients would not be entitled to a designation or letters after their names. The curriculum and examination will be delivered electronically in English, although we will consider expanding it to other languages in due course. Look for more details about this new program over the next year, and please continue to send us your feedback to help us introduce a product that will benefit our industry.



Edited 2 time(s). Last edit at Thursday, June 2, 2011 at 10:53AM by merv.

NakedPuts

Sounds more like CFA is trying to standardize the orientation that you get when you join a big finance company or really any company. This makes sense to me, as it can be used by smaller companies that wish to outsource it.

I got friends that work for an airline that were forced to take level 1 for example, as part ofm their management program. This was basically because they decided that their people should have a basic understanding of finance and the CFA was the easiest way to ensure that.

The fact that it implies no link to the CFA designation means we are not seeing a dilution. If anything it should increase awareness of the program. A lot more people will become aware of the program as a result of this. Brand equity goes up.

genuinecfa

Good point, ChickenTikka. I hadn't thought of it as a kind of "consumer education" designation vs. the "professional education" distinction. And you're right... if there are no letters that would make someone think that this is the same or equivalent to the CFA charter, then why not.