CFA Institute is pleased to announce that on May 25, 2012, it amicably resolved its worldwide dispute with the Institute of Chartered Financial Analysts of India (“Icfai”). The agreement will allow the parties to peacefully coexist and pursue their respective business objectives. Icfai will continue to operate under the Icfai brand; students currently enrolled in the program will be eligible to receive a CFA degree from Icfai, but Icfai otherwise is no longer offering the CFA program to new students. Icfai also will advise its existing alumni and students to use the terminology “CFA (Icfai)” to help distinguish themselves from CFA Institute’s charterholders.
As you know, CFA Institute’s mission is to promote the highest standards of ethics and professionalism. Both parties are pleased that the litigation is over, and expect that the professionals affiliated with each organization will treat each other with courtesy and respect. We hope that you will join us in promoting a harmonious relationship with Icfai.