Cfa Institute

“Heather brilliant and mark lazberger have a business relationship.”

“The four classes of membership in cfa institute are regular, affiliate, charterholder members and member societies. Regular members are entitled to one vote on each matter submitted at member meetings and 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.”

“Conflict of interest statements are collected annually. Employee and board of governors' disclosures are directed to the chief compliance, risk, and ethics officer. The conflict of interest policy provides various avenues for reporting, including anyone wishing to escalate concerns directly to the audit and risk committee chair. Compliance training on the code of conduct, including on conflicts of interest, is required for all new employees and ongoing annually. All employees acknowledge their understanding and adherence to policy within the code of conduct annually. The restrictions imposed on a person with a conflict vary based on the nature of the conflict and the situation; however, resolution of a conflict 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 utilizes a compensation committee comprised of four governors who are independent of management of cfa institute, and are free of any relationship that would interfere with their exercise of independent judgment. The compensation and governance committee (cgc) sets the compensation of the ceo, including any incentive, and engages independent consultants as needed to provide compensation recommendations. The committee ensures that independent comparative compensation studies are conducted on an annual basis to gauge the competitiveness of executive compensation at cfa institute. The most recent executive market study was conducted in fy2018, 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 executive talent. Peer group selection spanned different industry sectors, including not-for-profit and 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 publicly 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. Additionally, the cfa institute compensation committee 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.”

“Cfa institute is the global, non-profit professional membership association that administers the chartered financial analyst (cfa) certificate, the certificate in investment performance measurement (cipm) and the cfa institute investment foundations curriculum. Examination programs are conducted worldwide along with research, professional development programs and professional conduct enforcement for its individual members. The organization sets voluntary, ethics-based professional and performance-reporting standards for the investment profession. The stated mission of the organization is to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. Cfa institute pursues this mission on behalf of its individual members who currently number 164,511 in 165 countries. Cfa institute's membership includes 157,683 cfa charterholders and extends its reach into local communities through a network of 151 member societies in 74 countries. Cfa institute is headquartered in charlottesville, virginia, united states, with branch offices in london, brussels, hong kong and new york, and subsidiary offices in beijing, hong kong, mumbai, shanghai, singapore and uae. More information on the organization can be found 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. Programs include the certificate in investment performance measurment (cipm), a designation program for professionals that produce, interpret, present and explain investment performance and products (including selection and evaluation of investment managers), and the cfa institute investment foundations, a program for non-professionals working in the investment management industry.”