CFA Institute, the global association for investment professionals, Wednesday announced the launch of the Claritas Investment Certificate aimed at the broad range of people in the financial services industry who work alongside those in investment roles.
This new international education standard will open for global registrations in May.
Currently 68 organizations and over 3,000 candidates are taking part in a pilot program. These organizations include asset managers, financial institutions, media and consulting groups.
Participants are also globally diverse, with candidates taking part from a variety of countries including Australia, Canada, China, Denmark, Germany, Hong Kong, India, Ireland, Pakistan, South Africa, South Korea, Singapore, Switzerland, UAE, UK, Uruguay and the United States.
The first pilot exams are scheduled for late March.
CFA Institute says it is launching Claritas, in part, to help address trust and integrity issues that have undermined trust in financial services organizations
According to the CFA Institute Global Market Sentiment Survey 2013, investors agree that to restore integrity in the global capital markets, change must come from within. More than 65% of respondents indicated that a lack of ethical culture within financial firms has been the biggest contributor to the decline in confidence.
CFA Institute says Claritas will provide a foundational level of education aimed at increasing levels of knowledge and understanding of the investment industry for the many professional disciplines within financial services, including consultancy, compliance, marketing and sales, legal, HR, IT and operations.
Based on feedback from CFA Institute members and input from top financial leaders, regulators and academics from around the world, the new program is made up of seven self-study modules covering the industry, ethics, tools, instruments, structure, controls and client needs. Those completing the certificate will emerge with a clear understanding of the investment industry and their professional responsibilities within it.
“Claritas will enable those working across financial services to become more effective, knowledgeable and responsible professionals. This will benefit their employers, colleagues and society as a whole, as well as help support their own career development,” said John Rogers, president and CEO, CFA Institute, said in a release.
“Claritas represents a vital opportunity for the industry to raise standards across the board and lay the foundation to a better educated and informed workforce at all levels, regardless of their role,” said John Bowman, head, Claritas Investment Certificate, CFA Institute.