Many people say that they have done their CFA from ICFAI years back and that CFA is accepted all over the world. DO NOT FALL PRAY to these rumours, the only CFA recognised across the glob is from CFAI US which has won the court battle in India as well as US for the copyright of name CFA.
CFA was not able to conduct the tests in India due to differences because AICTE gave a injuction against CFA that it needs the approval from it to conduct the tests in India. CFA had a stand that since its not a technical education body but a self regulated certification course approval is not needed. The matter was pending in front of Delhi high court since 2007. Since technically the matter was prejudiced and AICTE had not given approval to CFAI it did not conduct the exams in India. But every year court used to decide on case by case whether to allow exams in India or not. Thus for last 3 years CFAI gives option to candidates from India to change the center after the nod from courts.
The current development has allowed the CFA stand rectified with AICTE saying it does not have juridiction over CFA exam as it not a technical education.
If one takes a closer look to the so called CFA program from ICFAI it has changed substantially from last few years, they tried to make money from the program by renaming it CFA with MS finance. Then converting it only MS finance, and now they do not have any course named after CFA. So what happens with all those student who passed the ICFAI course and are using the CFA degree. Legally all these students are not allowed to use CFA mark as designation. But as I always say CFA is supplimentary exam which helps in enhancing the current skill and position. So for all those people who have really gained the knowledge from ICFAI course and are working in the investment management industry have already gained the precious experience. Nobody can challenge their experience which they have earned not even CFA.
SO not a reason of worry for all those people who has done their course from ICFAI, but beware prospective candidates, if anybody tries to position themsleves as the real CFA in India then please cross check and verify with website http://www.cfainstitute.org/.
For more information on the case between CFA and ICFAI in US court please visit to the following links.
http://www.cfainstitute.org/about/press/release/Pages/01162009_16347.aspx
http://www.cfainstitute.org/about/locations/asiapac/Documents/order_contempt_30mar09.pdf
for details about court battle between CFA and AICTE in India follow the links below.
http://www.cfainstitute.org/about/press/release/Pages/04232012_66112.aspx
CFA was not able to conduct the tests in India due to differences because AICTE gave a injuction against CFA that it needs the approval from it to conduct the tests in India. CFA had a stand that since its not a technical education body but a self regulated certification course approval is not needed. The matter was pending in front of Delhi high court since 2007. Since technically the matter was prejudiced and AICTE had not given approval to CFAI it did not conduct the exams in India. But every year court used to decide on case by case whether to allow exams in India or not. Thus for last 3 years CFAI gives option to candidates from India to change the center after the nod from courts.
The current development has allowed the CFA stand rectified with AICTE saying it does not have juridiction over CFA exam as it not a technical education.
If one takes a closer look to the so called CFA program from ICFAI it has changed substantially from last few years, they tried to make money from the program by renaming it CFA with MS finance. Then converting it only MS finance, and now they do not have any course named after CFA. So what happens with all those student who passed the ICFAI course and are using the CFA degree. Legally all these students are not allowed to use CFA mark as designation. But as I always say CFA is supplimentary exam which helps in enhancing the current skill and position. So for all those people who have really gained the knowledge from ICFAI course and are working in the investment management industry have already gained the precious experience. Nobody can challenge their experience which they have earned not even CFA.
SO not a reason of worry for all those people who has done their course from ICFAI, but beware prospective candidates, if anybody tries to position themsleves as the real CFA in India then please cross check and verify with website http://www.cfainstitute.org/.
For more information on the case between CFA and ICFAI in US court please visit to the following links.
http://www.cfainstitute.org/about/press/release/Pages/01162009_16347.aspx
http://www.cfainstitute.org/about/locations/asiapac/Documents/order_contempt_30mar09.pdf
for details about court battle between CFA and AICTE in India follow the links below.
http://www.cfainstitute.org/about/press/release/Pages/04232012_66112.aspx
Yes some people says, good blog for information of Chartered Financial Analyst (CFA) Program.
ReplyDeleteBy:
etenfinance
It was excellent and very informative.
ReplyDeleteCFA Coaching Classes in Indore