Malaysia grants exam waiver for CFA charterholders
05 September 2014
Category: News, Asia, Global, Malaysia
By Derek Au
The Securities Commission of Malaysia (SC) has granted an exemption to CFA charterholders from four licensing examinations that are prerequisite to working as financial intermediaries in the South East Asian country, the CFA Institute said.
The Malaysian regulator has recognised the CFA charter as fulfilment of the following four examinations:
- Module 7: Financial Statement Analysis and Asset Valuation
- Module 10: Asset and Funds Management
- Module 12: Investment Management and Corporate Finance
- Module 14: Futures & Options (Despite the exemption, CFA charterholders will be required to complete a two-day preparatory course provided by the Securities Industry Development Corporation of Malaysia)
Commenting on the latest exemption of licencing examinations, Lee Yew Chen, president at the CFA Society Malaysia, a member society of the CFA Institute, said: "CFA Institute is proud of the trust that the SC has placed in us, and we are committed to working with the SC to develop a cadre of highly educated, ethically-minded financial professionals in Malaysia."
"For our charterholders in Malaysia, this official recognition enhances the reputation of the CFA charter itself. This also confirms our role as a trusted partner of regulators worldwide in ensuring the highest professional and ethical standards for financial market professionals."
The CFA Institute has more than 550 charterholders in Malaysia, represented locally by the CFA Society Malaysia.
Globally, regulators in 23 countries and territories have recognised CFA Institute programmes, including the CFA Program, CIPM Program and Claritas Investment Certificate.
Separately, the association said its Claritas Investment Certificate, a self-study programme for professional disciplines in the financial services industry outside of investment roles, has been granted full accreditation by the Finance Accreditation Agency (FAA), implying it meets the standards for learning programmes in the financial services sector. This is its first global recognition from an international accreditation body, according to the association.