Requirements to Practice 

 

Bodies in the following jurisdictions require you to pass a certain level of the CFA exam in order to practice:

 

Indonesia (Bapepam): Requires a minimum of one officer in a collective investments scheme with limited participation (funds with minimum investments of $US500,000 from individuals or €500,000) to have a CFA charter to operate such a fund.  (Alternative is passage of the local Investment Certificate and five years of lead portfolio experience).

 

Pakistan (Securities and Exchange Commission of Pakistan — SECP): Anyone providing investment advice in Pakistan must complete an Analyst Certification Program, of which the CFA Level I exam is a mandatory component.

 

Philippines (Trust Officers Association): Requires at least one fund manager in each member institution to have passed Level I of the CFA exam to manage mutual funds.

 

Thailand (Securities and Exchange Commission): Fund managers are required, among other criteria, to pass Level III of the CFA exam, or Level III of the Certified Investment and Securities Analyst (CISA) Program, which is modeled after the CFA Program. Alternative is passage of Level I of the CFA or CISA exam programs, if the fund manager has worked in research, risk management, or securities analysis for three of the past five years.