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CFA Institute Calls for Reform in Six Areas of Financial Industry at Annual Conference in Singapore



  CFA Institute Calls for Reform in Six Areas of Financial Industry at Annual
  Conference in Singapore

  Calls for reinvention of the system to shape a more trustworthy future of
                      finance that better serves society

Business Wire

NEW YORK -- May 20, 2013

John Rogers, CFA, president and CEO of CFA Institute, today called for an
overhaul of six key areas in the financial industry to restore levels of trust
to those of pre-financial crisis days. Speaking at the 66^th CFA Institute
Annual Conference in Singapore, Rogers defined the areas in which reform is
necessary as: putting investors first; safeguarding the system; retirement
security; financial knowledge; regulation and enforcement; and transparency
and fairness. Such a reinvention of the system will shape a more trustworthy,
forward-thinking financial industry for future generations. (watch video of
Rogers’ speech here)

“The past five years have been troubled times for financial services and for
the investment profession. We at CFA Institute believe that we can help
restore the public trust, which is so essential to put finance back in its
real role as an enabler of social and economic progress,” said Rogers. “The
six topics I describe today are critical building blocks toward a financial
system that can receive the trust and confidence of people everywhere. But
these solutions come to life only when you put them into motion. I’m asking
you to drive change specifically in these critical areas. Go back to you
firms, and your communities, and tackle these issues. The future of finance
starts with you.”

Forty-eight eminent speakers joined Rogers at the conference to discuss and
share insights on the future of finance, including Ng Kok Song, adviser and
chair of global investments, Government of Singapore Investment Corporation;
George Friedman, CEO and founder, Stratfor; Dambisa Moyo, international
economist, author and investment strategist; Michael Woodford, former
president and CEO, Olympus Corporation; and Andrew Sheng, president at Fung
Global Institute. This marks the first time CFA Institute held the conference,
which is regarded as one of the investment industry’s largest and
longest-running events, in Asia.

As a catalyst to Rogers’ calls for reform, CFA Institute recently launched its
Future of Finance project, a long-term global effort to shape a trustworthy,
forward-thinking financial industry that better serves society by providing
the tools to motivate and empower the world of finance to commit to fairness,
improved understanding, and personal integrity. In addition to the Statement
of Investor Rights, the first tool of the Future of Finance project, Rogers
today announced the Principles for Investment Reporting, which was created to
enable clear, trustworthy investment reporting.

“CFA Institute has strong credibility in the area of transparency and
fairness,” continued Rogers. “We are known as a standard setter, with the
Global Investment Performance Standards, our programs’ curricula, and our
members’ code of conduct and standards of professional practice, among others.
Capital markets thrive in sunlight, and serve their role in society when
participants are treated fairly.”

To guide the project, CFA Institute established the Future of Finance Advisory
Council. Chaired by leading British economist Professor John Kay, the council
comprises a distinguished list of global leaders from academia, industry and
the public sector, including Paul Chow, retired finance industry executive who
served most recently as chief executive and executive director at the Hong
Kong Exchanges and Clearing Limited; Andrew W. Lo, Charles E. and Susan T.
Harris Professor of Finance at the MIT Sloan School of Management and director
of MIT’s Laboratory for Financial Engineering; and Andrew Sheng is president
at Fung Global Institute, and ex-chairman of the Securities & Futures
Commission of Hong Kong.

The 66^th CFA Institute Annual Conference runs May 19-22 in Singapore, where
more than 1,200 delegates award-winning academics, economists, and business
leaders will share ideas, expand their professional competence, and join CFA
Institute in its efforts to restore trust in finance and raise standards in
ethics, education and professional excellence. Full conference agenda can be
found at annual.cfainstitute.org

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 behavior 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 116,000 members in 137
countries and territories, including 108,000 CFA charterholders, and 138
member societies. For more information, visit www.cfainstitute.org.

Contact:

CFA Institute
Media:
Asia Pacific
Betty Wong, +852 6110-0732
Hong Kong
betty.wong@cfainstitute.org
or
Europe, Middle East, and Africa
Nicole Haroutunian, + 44 (0) 20-7330-9551
London
nicole.haroutunian@cfainstitute.org
or
The Americas
Sarah-Jane Purvis, +1 (212) 705-1738
New York
sarahjane.purvis@cfainstitute.org
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