The CFA Institute is recognizing May as Putting Investors First month for the second year in a row. Many of the organization’s 144 member societies throughout the world are planning local events with a goal of bringing more attention to the needs and rights of investors.
“We aspire to build and lead the investment management profession; to do this, we must continue to stand together for what is right and in investors’ best interests,” says Paul Smith, president and CEO of the CFA Institute. “All investors have the right to be served by professionals who act as stewards of their savings.”
Some of the Institute’s Canadian societies will be involved in promoting the initiative. For instance, the Vancouver society will host an event featuring Lynn Patterson, deputy governor of the Bank of Canada (BoC). Patterson will discuss the changes the BoC is making to its market operations to give it more flexibility to respond to financial system shocks and better manage risk. CFA Society Victoria will host an event celebrating the rise of women investors and angel-backed women-led companies. Other societies that will be involved are those located in Toronto, Okanagan and Winnipeg.
The CFA Institute will also be placing a heavy focus on its Statement of Investor Rights, which it is encouraging financial professionals to endorse and share with their clients and communities. This statement is a list of 10 rights that investors should expect from their investment professionals, such as the disclosure of any conflicts of interest the professional may have in the sale of the provision of products and service; and that investors’ financial interests take precedence over those of the professional and the organization.