CFA Institute Taps Leading Economist John Kay to Lead Future of Finance Project, Unveils Statement of Investor Rights

CFA Institute Taps Leading Economist John Kay to Lead Future of Finance 
Project, Unveils Statement of Investor Rights 
Long-term effort aims to shape a more trustworthy financial industry 
TORONTO, March 18, 2013 /CNW/ - CFA Institute and a team of prominent 
financial industry leaders including Advisory Council Chair John Kay have 
launched the Future of Finance project, a long-term global effort to shape a 
trustworthy, forward-thinking financial industry that better serves society. 
The project aims to provide the tools to motivate and empower the world of 
finance to commit to fairness, improved understanding, and personal integrity. 
Led by Kay, the advisory council is comprised of a diverse group of experts 
from finance, education and media. To learn more about the project and find 
ways to participate, visit 
"The global financial industry can be an extraordinary force for good, but 
there is much work to be done to shape the industry for future generations," 
said Kay, chair of the Future of Finance Advisory Council. "This project is 
designed to engage professionals and investors in and outside of finance to 
help solve problems with the global financial system. We can affect positive 
change in finance, but change starts with all of us - industry leaders, 
financial professionals, government agencies, financial regulators and the 
public. It's an ambitious project that aims not just to gather the best ideas, 
but to make them a reality." 
Statement of Investor Rights Helps Investors Demand Ethical Behaviour
As a first step, the Future of Finance project has unveiled the Statement of 
Investor Rights, a list of principles intended to help buyers of financial 
service products demand the conduct they are entitled to expect from financial 
service providers. The list applies to financial products and services such as 
investment management, research and advice, personal banking, even insurance 
and real estate, and is intended to help investors demand that financial 
professionals abide by these rights. The document includes rights that 
investors are entitled to expect such as objective advice, disclosure of 
conflicts of interest, and fair and reasonable fees. 
"The Statement of Investor Rights emphasizes the concept that the investor 
must always come first, and lays a solid foundation for this project. Our 
plans are lofty as we develop events, publications and significant 
research-based tools to reinforce the need for ethical conduct and 
professional practice to restore trust and confidence in finance," said John 
Rogers, CFA, CEO and president of CFA Institute. "The Future of Finance 
project is a critical way for us to encourage thought leadership and 
engagement, as we seek to shape a more forward-thinking industry. CFA 
Institute is in a unique position to lead this effort, promoting the highest 
standards of ethics, education and professional excellence for the ultimate 
benefit of society." 
Project Tackles Key Issues and Challenges in Finance
The Future of Finance project is focused on six primary topics of interest for 
all who rely on finance, including putting investors first; safeguarding the 
system; retirement security; financial knowledge; regulation and enforcement; 
and transparency and fairness. The project plans rigorous research and 
recommendations to address each area, and will produce accessible tools to 
encourage broad adoption and widespread change throughout the global financial 
system. To read more about these topics and learn how to take action, visit 
The advisory council will issue a call to action on May 20 at the CFA 
Institute Annual Conference in Singapore, detailing the objectives and future 
plans for the Future of Finance project. The call to action will include an 
overview of the primary problems with finance, and how the project will tackle 
those problems. 
Initial members of the Future of Finance Advisory Council are: 
Chair  John Kay, Economist and Author 
Keith Ambachtsheer, Director, Rotman International Centre for Pension 
Management, Rotman School of Management, University of Toronto Paul Chow, 
Former Chief Executive, Hong Kong Exchanges and Clearing Limited Elizabeth 
Corley, CEO, Allianz Global Investors Tom Keene, CFA, Editor-at-Large, 
Bloomberg News
Ira M. Millstein, Senior Partner, Weil, Gotshal & Manges LLP
Saker Nusseibeh, CEO and Head of Investment, Hermes Fund Managers
Robert C. Pozen, Senior lecturer, Harvard Business School and senior fellow, 
Brookings Institution 
A complete list of members of the Future of Finance Advisory Council will be 
announced in May. 
About CFA Institute
CFA Institute is the global association of investment professionals that sets 
the standard for professional excellence and credentials. The organization is 
a champion for ethical behaviour in investment markets and a respected source 
of knowledge in the global financial community. The end goal: to create an 
environment where investors' interests come first, markets function at their 
best, and economies grow. CFA Institute has more than 114,000 members in 137 
countries and territories, including 106,756 CFA charterholders, and 138 
member societies. For more information, visit 
J.D. McCartney CFA Institute, New York +1 (212) 418-6889 
Andrew Addison Fleishman-Hillard Canada +1 (416) 645-3648 
SOURCE: CFA Institute 
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-0- Mar/18/2013 12:00 GMT
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