Cfa Institute

“The classes of membership in cfa institute are regular members, affiliate members, charterholder members, and member societies. Regular members are entitled to one vote on each matter submitted at member meetings. Regular members also have the right to elect the board of governors. The board may have up to two governors who are not regular members. All other governors shall be regular members.”

“Form 990 is presented to the audit and risk committee and discussed in detail. In addition, copies are provided to each of the board of governors. These presentations take place prior to filing.”

“The conflict of interest statements are collected annually. Employee and board of governors' disclosures are directed to the chief compliance risk and ethics officer. Contact information for the audit and risk commitee chair is also available in the conflicts of interest policy for anyone wishing to escalate concerns directly. Annual training for all employees is provided by the compliance and ethics group. All employees acknowledge their understanding and adherence to the code of conduct annually. The restrictions imposed on a person with a conflict vary based on the conflict, the position of the person, and the situation; however, it could include prohibiting a board member from participating in a particular deliberation and/or decision.”

“To ensure ongoing and effective corporate governance, the board of governors utilized a compensation and governance committee (cgc). It comprised of five governors who are independent of the management of cfa institute, and are free of any relationship that would interfere with their exercise of independent judgment. The cgc sets the compensation of the ceo, including any incentive, and engages independent consultants as needed to provide compensation recommendations. The cgc ensures that independent comparative compensation studies are conducted every three years to gauge the competitiveness of executive compensation at cfa institute. The most recent executive market study was conducted in fy2014, when cfa institute retained a global management consulting firm to provide competitive pay benchmarks that reflect the markets from which cfa institute would most likely recruit its executive talent. Peer group selection spanned different industry sectors including not-for-profit firms, financial services firms, academia and higher education, and general industry. The not-for-profit peer group selection was based on criteria that included mission, revenue, headcount and global presence. Pay data was collected from publically disclosed irs form 990s. Data for the other industry sectors was sourced using both third-party survey data and information disclosed on public filings. The consulting firm performed this study on an independent fee basis. Separately, the cgc of the board of cfa institute also engages independent advisors to help interpret how the reported market data applies to cfa institute's executive positions.”

“The organization's financial statements, governing documents and the conflict of interest policy are available to the public through the organization's website, www.cfainstitute.org.”

“This membership includes 140,080 cfa charterholders. Cfa institute extends its reach into local communities through a network of 147 member societies in 73 countries. Cfa institute is headquartered in charlottesville, virginia, united states, with offices in london, brussels, beijing, mumbai, singapore, shanghai, hong kong, and new york. You can find more information on the organization at www.cfainstitute.org. Part iii, line 4d, other program services cfa institute also provides a variety of programs and services to its members and to the global investment community at large. Such programs include the certificate in investment performance measurment (cipm) program, a designation program for professionals that produce, interpret, present and explain investment performance and products, (including selections and evaluating investment managers), and the cfa institute investment foundations program.”