Cfa Institute

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

“Regular members have one vote per each matter submitted including the right to elect the officers (chair and vice chair) and members of the cfa institute board of governors.”

“Form 990 is presented to the audit and finance 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 form 990 with the irs.”

“Conflict of interest statements are collected annually. Employee and board of governors' disclosures are directed to the chief compliance officer. The conflict of interest policy provides various avenues for reporting, including anyone wishing to escalate concerns directly to the 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 committee - the people and culture (pac) committee - comprised of three 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 pac committee 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 biennial basis to gauge the competitiveness of executive compensation at cfa institute. The most recent executive market study was conducted in fy2023, 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, 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 pac 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.”

“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 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 certificate in esg investing and also provides professional learning courses. 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 205,957 in 169 markets. Cfa institute's membership includes 199,799 cfa charterholders and extends its reach into local communities through a network of 160 member societies in 82 markets. Cfa institute is headquartered in charlottesville, virginia, united states, with branch offices in london, brussels, hong kong, new york, and washington d.c. And subsidiary offices in beijing, hong kong, mumbai, shanghai, singapore and abu dhabi. More information on the organization can be found at www.cfainstitute.org.”

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