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Disciplinary Review Committee

Purpose

The Disciplinary Review Committee (DRC) is responsible for enforcement of the Code of Ethics and Standards of Professional Conduct and the rules and regulations of the CFA Program in order to maintain the integrity of CFA Institute membership and the CFA designation. The DRC:

  • Hears and decides disciplinary matters related to alleged violations of the Code and Standards and the rules and regulations of the CFA Program;
  • Reviews and decides appeals and certain stipulated and summary disciplinary matters; and
  • Reviews and recommends changes to the Rules of Procedure.

The DRC Nominating Committee is responsible for recruiting charterholder members for the DRC, and strives for a fair representation of the differing areas of industry practice, experience, history of volunteer involvement, commitment to ethical standards, and geographic locations of CFA Institute members.

DRC members serve for a term of one year, renewable annually for a maximum of six years. Terms may be staggered to allow for turnover and continuity.

Nominations Process: The nominations process for the 2022 fiscal year will begin on 22 February 2021 and will end on 22 March 2021.
 
Volunteer Qualifications: Members must be CFA Institute Members who have held the charter for at least three (3) years, with a minimum of five (5) years of experience in the industry.

Volunteer Commitment: Service on the DRC requires significant time commitment (about 100-150 hours), some of which will be during the work week. Members may be asked to serve on in-person hearing panels that require international travel.

Conflicts Specific to the Role: Must be a member in good standing; Must disclose every relationship with a prep provider, including work for a society-sponsored prep course; Prohibited from working for a prep provider while on the DRC and for one year after completion of term; May not be currently enrolled in the CFA Program; Must disclose all work (including volunteer) for another testing, credentialing, or licensing organization in the finance industry; Prohibited from working for another such organization while on the DRC; Disclose all immediate family and household members enrolled in the CFA or CIPM Program; May not serve if an immediate family member or household member is enrolled in CFA Program; Disclose all working relationships with individuals enrolled in the CFA and/or CIPM Program; Prohibited from acting as a CFA or CIPM exam team member, Council of Examiners member, PCR, CFA exam proctor, CFA exam supervisor, data forensics subject matter expert, EAS personnel, or any other role in exchange for compensation from CFA Institute.

Link to Application: https://webportalapp.com/appform/drcapplication2021

If you have any questions regarding the process or the application, please send an email to DRCVolunteers@cfainstitute.org.

Jan M. Richards CFA

DRC Executive Team

Chair

Philippe Maupas CFA, CIPM, CAIA

DRC Executive Team

Deputy Chair

Member of CFA Society France

Barbara L. Bauer CFA, CFE

DRC Executive Team

Member of CFA Society Calgary

Westfall O. Richard, Jr. CFA, CPA, CFE

DRC Executive Team

Member of CFA Society Washington, DC

Jennifer Norris CFA

DRC Executive Team

Member of CFA Society Dallas/Ft. Worth

Darshan Abeysuriya CFA

Member of CFA Society Sri Lanka

Theodore Alepis CFA

Member of CFA Society Cyprus, CFA Society Greece

James Bailey CFA

Senior Institutional Client Advisor

Fabrizio Basile CFA

Member of CFA Society Switzerland

Mark C. Biderman CFA

Member of CFA Society New York

Damian Bridge CFA

Member of CFA Society Sydney

Ismail Erdem CFA

Member of CFA Society Istanbul

Nathan Erickson CFA

Managing Partner and Chief Investment Officer, MRA Associates

Member of CFA Society Phoenix

Petula Gibson CFA, TEP

Sr. Trust Lawyer

Brian Goodstadt CFA

Member of CFA Society Colorado

Philip Graham CFA

Independent Consultant and Trustee Director

Janine Guenther CFA, CMT

Member of CFA Society Vancouver, CFA Society Toronto

Shuk Yee (Samantha) Ho CFA, SFHKSI

Member of CFA Society Hong Kong

Junhe (Michael) Huang CFA

Member of CFA China

Mark K. Lauber CFA

Member of CFA Society United Kingdom

Kher Sheng Lee CFA, CAIA

Member of CFA Society Singapore, CFA Society Hong Kong

Pablo Matsumoto CFA

Member of CFA Society Argentina

Petri Serenius CFA

Member of CFA Society Finland

Barbara Shyloski CFA, ADPA (c), LUTC, MBA

Sr. Wealth Strategy Assoc.

Tom L. Stringfellow CFA, CFP, CPA, CIC

Member of CFA Society San Antonio

Lay Hoon Tan CFA

Stephen Thompson CFA

Member of CFA Society Edmonton

William Warnke CFA

Principle/Partner at Warnke/Nichols Ltd

Sheri Littlefield

Sheri Littlefield JD

Managing Director and Chief Legal Officer and General Counsel, Legal & Board Services, CFA Institute

Sheri Littlefield oversees the organization's global legal services and board and corporate services function. As chief legal officer, she oversees all legal matters on a global basis and serves as advisor to CFA Institute leadership and Board of Governors. She directs and advises on global litigation, intellectual property protection strategies, transactional matters, employment issues, governance, and other in-house legal services. Ms. Littlefield has practiced law in a variety of disciplines and matters encompassing complex transactions, international litigation, environmental law, international trade controls, antitrust, and employment law, among others. Most recently, she served as general counsel at GE Industrial Solutions in Charlottesville, Virginia, where she oversaw all legal and compliance issues for the business around the world. She has served as general counsel to GE Intelligent Platforms and as counsel to the Hudson River Program for the General Electric Company, which included the implementation of one of the largest and most logistically complex environmental dredging cleanups in U.S. history. Prior to joining GE, Ms. Littlefield was counsel in the Albany office of Nixon Peabody. She is the immediate past chair of the Corporate Counsel Committee of the American Bar Association TIPS Section and vice chair of the Section's Leadership Academy. She graduated from George Washington University with a Bachelor of Arts degree in political science and a minor in Japanese. Ms. Littlefield also earned a Juris Doctor degree from Boston University School of Law.

William Kruse

Deputy General Counsel

Carson Johnson

DRC Advisory Counsel

Megan Conklin

Program Administrator, DRC

Ange Hansen

Manager, Global Investment Standards

Leilani S. Hall CFA, CIPM, CAIA

Managing Director and Chief Compliance, Risk and Ethics Officer, CFA Institute

Member of CFA Society Washington, DC

Lauri Keen

Director, Professional Conduct

Jeff Stith

Head of Professional Conduct–Enforcement

Governance

Interested in Volunteering?