Terms and Conditions

1. Introduction
• These terms and conditions apply to the competition to win three free Investment Management Certificate (IMC) Unit 1 examination registrations, as offered by CFA UK.
  


2. Eligibility
• The competition is open to individuals aged 18 years or older, who are based in the United Kingdom.
• Employees or contractors working for CFA UK, their immediate family members, and anyone else connected with the competition are not eligible to enter.


3. Entry Requirements
• Participants must complete the ‘Download the sample chapter’ form by supplying the details required in the form, which is available on the CFA UK website.
• Only one entry per person is permitted.
• Entries must be submitted by midnight on 31 December 2024.


4. Competition Period
• The competition, for completion of the ‘Download the sample chapter’ form will run from 1 December to 31 December 2024.
• Entries received after the closing date will not be considered.
• The candidate will need to sit their examination within 12 months of registration. After that date their registration to sit the examination will automatically lapse.


5. Prize
• The prize consists of three free Unit 1 examination registration for the IMC.
• The prize is non-transferable and cannot be exchanged for cash or any other alternatives.
• The prize cannot be transferred to a Unit 2 IMC registration.
• The prize does not include the hard copy learning materials which would require purchasing separately, after registration for the examination.


6. Winner Selection
• Three winners will be selected at random from all eligible entries.
• The draw will take place in the week of 6 January, subject to a final decision as to when to close the entries, being taken by CFA UK.
• Winners will be notified by email within 5 working days of the draw.


7. Claiming the Prize
• Winners must claim their prize within calendar 7 days of notification by replying by email. If winners do not respond within calendar 7 days, the eligibility for the prize will lapse.
• If a winner does not claim their prize within this period, or respond to emails from CFA UK, CFA UK reserves the right at any time during the process to select an alternative winner.
• Winners will receive their complimentary registration within 7 days of the draw and must register for their Unit 1 examination before midnight 31st January 2025.
• Winners must sit the examination within 12 months of registration, after which date their scheduled sitting date will lapse and be void.


8. Publicity
• By entering the competition, participants agree to the use of their name and image in any publicity material.


9. Privacy and Data protection
• Any personal data gathered relating to participants will be used in accordance with current UK data protection legislation.
• The prize winner agrees to the sharing of their personal data with the suppliers CFA UK uses for subcontracting services, including provision of website, ecommerce and CRM management and examination delivery.
• Participants agree to opt-in to communications being received from CFA UK in relation to the competition and prize.


10. General Conditions
• CFA UK reserves the right to cancel or amend the competition and these terms and conditions without notice.
• Any changes to the competition or eligibility will be notified to participants as soon as possible.
• If the candidate were not successful in passing the examination, a resit fee and further scheduling would be entirely the candidate’s responsibility.
• If any dispute were to arise in relation to the competition or the prize, the final decision shall be made by the Chief executive of CFA UK


11. Liability
• CFA UK accepts no responsibility for entries not received for whatever reason.
• CFA UK does not accept any liability for losses or any issues if they were to arise in terms of scheduling or taking the exam.
• Any additional costs incurred that may arise for whatever reason, including the purchase of hard copy learning materials, are solely the responsibility of the candidate.
• The competition is subject to English law in the United Kingdom.

Information about us

CFA Society of the UK is a company limited by guarantee registered in England and Wales under company number 4035569 at the following registered office address:

CFA Society of the UK
3rd Floor, Boston house
63-64 New Broad street
London 
EC2M 1JJ

In these terms:

1. references to 'you', 'your' and 'yours' are references to the person(s) accessing the Site.
2. references to 'we', 'us', 'our' and 'CFA UK' are references to CFA Society of the UK.

These Terms

These Terms are to be read by you in conjunction with any terms, conditions and disclaimers provided in the pages of the Site. We reserve the right to change these Terms at any time without prior notice. Any changes will take effect on the date they are posted onto the Site. You should read and accept the Terms each time you use the Site, to ensure that you are familiar with the most current ones.

Accessing the Site

Access to the Site is permitted on a temporary basis, and we reserve the right to withdraw or amend the service we provide on the Site without notice (see below). We will not be liable if for any reason our site is unavailable at any time or for any period.
You may access most areas of the Site without registering your details with us. Certain areas of the Site are only open to you if you register and/or are a member. From time to time, we may restrict access to some parts of the Site, or the entire Site.
If you choose, or you are provided with, a user identification code, password or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any third party. We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our opinion you have failed to comply with any of the provisions of these Terms.

Ownership of content and use of content

All rights, including intellectual property rights, in the Site are owned by or licensed to us. All such rights are reserved. Any use of the Site or its contents, including copying or storing it in whole or in part, other than for your own personal, non-commercial use is prohibited without our prior written consent. You may not distribute, modify, re-post or create any link to any part of the Site without our prior written consent.
You may print off one copy, and may download extracts, of any page(s) from the Site for your personal reference.


You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.
Our status (and that of any identified contributors) as the authors of material on the Site must always be acknowledged.
If you print off, copy or download any part of the Site in breach of these terms of use, your right to use the Site will cease immediately and you must, at our option, return or destroy any copies of the materials you have made (including any electronically-stored copies).
You may not create and/or publish your own database which utilises sections of the Site and/or any database on the Site or accessible through it without our express written consent.

Accuracy of content

Commentary and other materials posted on the Site are not intended to amount to advice upon which reliance should be placed. We work hard to ensure that all information on the Site is accurate. However, occasionally errors can occur. Any information is provided on an "as is" basis and we do not give any warranty or make any representation of any kind, whether express or implied, in relation to it.

The use of the Site is at your own risk and we shall not be liable for any loss or damage that might occur, howsoever arising, as a result of your use of or reliance upon the information contained on the Site. You should take appropriate legal, financial or other advice before taking any action arising out of the use of material from the Site.

Site changes

We aim to update the Site regularly and may change the content at any time. Any of the material on the Site may be out of date at any given time, and we are under no obligation to update such material.

Third party sites and terms

By following the links on the Site, you will be transferred to external websites belonging to and managed by third party providers. The linked sites are not under the control of CFA UK and CFA UK is not responsible for the contents of any linked site, or any link(s) contained in a linked site, or any changes or updates to such sites. We have included these links for your convenience and the inclusion of a link does not imply or constitute CFA UK endorsement of the site or any products or services advertised on or provided through it. We accept no responsibility for any loss or damage you sustain by visiting these websites or booking anything through them.

We have not verified any of the information provided to us by third party providers (including but not limited to dates, times, venues and the content and syllabus of training offered, or its suitability for any purpose) and it is your responsibility to ensure that anything you book is fit for purpose and appropriate for your requirements. Links are provided by CFA UK on the Site in good faith and in reliance on information we have been provided.

When you book yourself on to any training, or book any other service(s), provided by any third party provider, you will have to agree to their terms and conditions and a contract will be formed between you and that third party provider. Unless their website states otherwise, you will normally be deemed to have accepted such terms in full by placing the relevant booking.

Please review all applicable terms carefully as we have not done so and we disclaim any liability for any loss or damage you suffer as a result of contracting with any third party.
If you have any concerns regarding a booking, or any feedback regarding any services you have received, please raise those directly with the relevant third party provider. You may also wish to inform us, but we will not be under any obligation to act upon that information or to liaise directly with the third party in order to resolve issues or to address complaints.

We shall not be obliged to continue to offer any third party links through the Site and may remove such links (or replace them with links to other third parties' sites) at any time and at our discretion.
Various CFA UK activities, services and events are provided by, in conjunction with, or in reliance upon third parties. If this is the case, we will specify that at or before the time of your booking. Where third party providers are involved, unless we explicitly state otherwise, you will also have to comply with, and be subject to their own terms and conditions (although, in the event of conflict, CFA UK’s Terms shall prevail).
In addition, you and/or CFA UK may have to provide your personal details to the relevant third party/parties. By booking any such activity, service or event, you give us your consent to do so.
Information about you and your visits to the Site

We process information about you in accordance with our privacy policy. By using the Site, you consent to such processing and you warrant that all data provided by you is accurate and that you will let us know promptly if your information changes.

Communications

Information provided to or by us through the Site, including by email, cannot be guaranteed to be secure or error-free. Such information may be subject to loss, interception, or alteration. We will not be liable for any loss or damages, howsoever arising, occurring as a result of such electronic communication being lost, intercepted or altered or affected in any other way.

Your use of the Site

You may not use the Site for any of the following purposes:

(a) disseminating any unlawful, harassing, libellous, abusive, threatening, harmful, vulgar, obscene, or otherwise objectionable material or otherwise breaching any laws;
(b) transmitting material that encourages conduct that constitutes a criminal offence, or otherwise breaches any applicable laws, regulations or codes of practice;
(c) interfering with any other person's use or enjoyment of the Site; or
(d) making, transmitting or storing electronic copies of materials protected by copyright without the permission of the owner.

You will be responsible for our losses and costs resulting from your breach of this term.

Limitation of liability

To the extent permitted by law we expressly exclude any liability for direct, indirect or consequential loss or damage incurred by you or any other user or third party in connection with the Site or in connection with the use, inability to use or results of the use of the Site, any websites linked to or from it and any materials posted on it, howsoever caused.

In addition to any specific limitations and exclusions of liability set out in these Terms, CFA UK shall have no liability for any loss or damage caused or contributed to by any act, omission matter or circumstance which is outside the reasonable control of CFA UK or which is caused or contributed to by any act, omission, or breach of these Terms by you or of any third party.

We do not exclude or limit our liability for death or personal injury caused by our negligence, or for fraud or fraudulent misrepresentation.

Viruses and misuse

We make every effort to ensure that the Site is free from viruses or defects. However, we cannot guarantee that your use of the Site or any websites accessible through it will not cause damage to your computer or otherwise. Nor do we guarantee that use of the Site will be uninterrupted, timely, secure and/or error free. It is your responsibility to ensure that the right equipment is available to use the Site and to filter out anything that may damage it or your computer or other equipment. We shall not be liable to any person for any loss or damage which may arise to computer or other equipment as a result of using the Site.

You must not misuse the Site by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to the Site, the server on which the Site is stored or any server, computer or database connected to the Site. By breaching this provision, you might be committing criminal acts and be subject to prosecution. We will report any such breach to the relevant law enforcement authorities and we will cooperate with those authorities by disclosing your identity and any other information we hold to them. In the event of such a breach, your right to use the Site will cease immediately.

General

These Terms are governed by English law and are subject to the exclusive jurisdiction of the English courts. We do not accept amendments to these Terms.

Your concerns

If you have any concerns about material which appears on the Site, or have any questions about these Terms, please contact info@cfauk.org.

Registrations

Registration for CFA Society of the UK (‘CFA UK’ or ‘our’) events should be made via the CFA UK website.

The terms and conditions outlined below apply to the majority of CFA UK’s events and may be amended or superseded in certain instances. Where this is the case, the specific event webpage will contain details of any terms and conditions that apply to that event, and any terms on that webpage which conflict with these general Terms will supersede any conflicting provisions of these Terms.

It is the responsibility of the person registering for an event to correctly select whether they are a current member of CFA UK, or not. If they are not sure of their membership status, they should please call CFA UK customer services on 020 7648 6200.

Booking Policy

Some of CFA UK’s events are offered free to members. Our experience shows that making events free can lead to an increase in people booking and not attending events. We can overbook our events by a figure derived from analysis of our current cancellation levels so that as many members, as possible, are able to attend.

While it is unlikely that an event will reach capacity, if that were to happen, then admission would take place on a first-come, first-served basis and we reserve the right not to allow entrance to members once we have reached the maximum capacity for a specific venue and event. We encourage all members attending an event to arrive as close to the registration start time as possible to minimise the risk of any potential disappointment.

Payment and confirmation

We must receive payment from attendees before the event is held, if the event is chargeable. A confirmation email will normally be sent to the attendee(s) after we have received full payment for the event. If an event is not chargeable, registration is still required, a confirmation email will still be sent. Places at events are only reserved upon email/written confirmation from us.

Cancellations

If you cannot attend an event, please cancel your booking, so that another person can take up your place. Cancellations must be requested, up to 7 days before the event date, by email to events@cfauk.org.

Events are normally eligible for refund if the member notifies the events team as soon as possible after booking and up to 7 days before the event. CFA UK reserves the right to charge an administration fee in the event of a refund being provided.

Some events, if cancelled, may not be eligible for a refund, e.g. where numbers have already been provided to the venue or services or food ordered. CFA UK has absolute discretion to determine whether a cancellation will be refunded, or not.

No fees will ever be refunded, under any circumstances, for cancellations made within seven days of the date of the event.

Event admission and programme

We reserve the right to refuse admission to the event if payment has not been received by CFA UK by the date of the event, in the event of late arrival, or if registration at the event has closed.

In an event is not charged for, we reserve the right to overbook due to anticipated non-attendance levels. Therefore, admission to some events may be refused on the day, in the event of a larger number of booked members attending than expected. We are not liable for any loss or inconvenience caused by entry being refused to an event if such a situation were to arise.

Proof of booking must be presented on entry and at the registration desk and CFA UK may refuse entry if this is not provided.

We reserve the right, for any event, to change the programme, the price and/or speakers at any time and without prior notice. We also reserve the right, in our absolute discretion, to cancel an event, in which case our liability to you will be limited to a refund of the registration fees already paid.

All attendees must comply with the terms and conditions imposed by third party providers at events arranged by those third parties.

Photographs and recordings

We normally take photographs and/or video at our events and use those for promotional purposes, including publishing them in our publications, on our website or on our learning platform and in brochures and other materials. Your image or a video or recording of you may therefore be used in such materials by CFA UK.
Please advise us in advance of the event by emailing the events team on events@cfauk.org if you do not wish for your image to be used in this way.

Data Protection

The protection of your data is important to us and we will treat your personal data that you have supplied in order to deliver events to you, in accordance with current data protection legislation. We will use your personal data to enable booking onto CFA UK events and to deliver the event or course and necessary follow-on processing.<

We will use your personal data to administer the bookings, refunds and cancellations if applicable, to provide communications to you about the event, to allow invoicing and payment, the creation of delegate lists, feedback and voting. Also, from time to time, CFA UK may contact you to obtain feedback on the events programme in order to improve our services.

Please note that we may need to share your personal data with presenters, venues, trainers, examination training providers, organisers, print houses, other members of CFA UK, CFA Institute, committees or special interest groups of CFA UK and external delivery partners.

Liability

CFA UK does not accept any liability for any direct or indirect losses or damages that any person or attendee at an event might suffer, arising from attendance at any CFA UK event or a third party event advertised on the CFA UK website or arising from refusal (by CFA UK or by any third party) to permit entry to an event in accordance with these Terms.

A membership year runs from 01 July until 30 June. New local membership (excluding members who are also members of CFA Institute) and the related fees are pro-rated quarterly, excluding the final quarter. This means that all memberships end on 30 June each year. Membership applications received after 1 July will run until 30 June and will not constitute a full year.

To request information about membership please contact membership@cfauk.org. 

All CFA UK members must sign and comply with the CFA Institute’s Code of Ethics & Standards of Professional Conduct or CFA UK’s Code of Ethics and Standards of Professional Conduct.

Designations awarded by CFA UK may only be used by members who have passed the relevant qualifications and are active (paid-up) members of CFA UK. Nobody else is permitted to use those designations. CFA UK reserves the right to withdraw a previously awarded designation if information comes to light that may affect CFA UK’s assessment of the member’s suitability to hold the designation.

Certain types of membership may only be applied for via CFA Institute and members must update their details the same way. Fees for the same are set by CFA Institute and are not pro-rated for joining during the membership year.

Membership termination

We reserve the right to terminate or suspend membership benefits if the required renewal payment is not received by the start of the membership year. CFA UK also reserves the right at any time to terminate the membership of any member who is deemed to have acted outside of the CFA UK Code of Ethics and Standards of Professional Conduct.

There are no refunds or reimbursements for membership services that have not been utilised during the membership term. 

Payment

Membership benefits will not start until full payment is received. Payments can be made online using a credit or debit card, manually by bank transfer or by cheque. CFA UK does not issue invoices for membership fees.

A confirmation email will be sent to the email address provided once an online membership application has been submitted.

CFA UK reserves the right to amend membership fees, which are currently revised annually. 

Your details

The personal and company details that you provide are held on a database maintained by us or on our behalf. You have a right to see the information that CFA UK holds about you in accordance with our Privacy Policy.

Liability

CFA UK has no liability for any loss or damage that any person (including any member or potential member) might suffer arising from: 

• Termination or lapse of membership;
• Refusal to award membership or any particular qualification (whether by CFA UK or CFA Institute)
• Withdrawal of membership benefits in accordance with these Terms; or
• Misuse of any CFA UK designations (including IMC and/or ASIP) or a person holding themselves out to be a member of CFA UK or CFA Institute when they are not in fact a member.

CFA UK qualifications 

The level of CFA UK qualifications may be changed by Ofqual, the regulator of qualifications.

CFA UK also reserves the right to update the qualification syllabai from time to time, and it is the candidate’s responsibility to check for updates which will be published on CFA UK's Site.

Payment

CFA UK reserves the right to amend the examination entry fees from time to time. Fees are reviewed annually with regular increases that are typically slightly ahead of the rate of inflation to reflect the cost of operating and investing in the qualification. Each fee paid entitles a candidate to one exam sitting.

Payments can be made online using a credit or debit card, manually by bank transfer or by cheque. CFA UK does not issue invoices for qualification exam registration fees. A VAT receipt will be despatched on request.

Save for the provisions set out in the paragraph below (Cancellations), CFA UK does not refund qualification exam registration fees, whether or not a candidate has attended and taken the examination.

If unable to register and pay for the qualification exam registration fees online, please contact info@cfauk.org to request a registration form.

Cancellations

CFA UK provide cancellation rights in accordance with the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (the Regulations).

You may cancel your order at any time without giving a reason within 14 days of the date that you place your order (the Cancellation Period), as long as the exam registration has not been consumed and the candidate has not scheduled an exam slot with Pearson VUE.

To cancel an order, you must let CFA UK know that you have decided to cancel in writing. The easiest way to do this is to e-mail CFA UK at info@cfauk.org . Please provide CFA UK with details of your order to help us to identify it. If you send us your cancellation notice by e-mail, then your cancellation is effective from the date you send us the e-mail.

If you cancel an order within the Cancellation Period, CFA UK will:

• refund you any charges that you have paid;
• make any refunds due to you as soon as possible and in any event within 14 days after you inform us of your decision to cancel.

You confirm that by submitting this online order you are authorising CFA UK to start providing you with the services immediately and before the expiry of the Cancellation Period.  You will not be entitled to cancel an order and receive a refund for services that have been fully performed/consumed.

Confirmation

Scheduling the Examination

Postponements

Identification

In order to sit the examination at the Pearson VUE test centre, you must provide one of the following forms of identification upon arrival at the test centre:

• a current, signed and valid passport, or
• a current, signed and valid UK photocard driving license (full or provisional).

The name on your identification must EXACTLY match the name you provided when you registered for the examination. Pearson VUE test centre staff have no discretion to waive or vary the identification rules. Please email info@cfauk.org at least seven business days prior to your scheduled appointment to make any corrections if necessary.

If you do not have one of the accepted forms of identification, please make Alternative ID arrangements with CFA UK at least seven business days prior to your scheduled appointment.

Failure to present the appropriate identification will result in your being denied entry to the examination and forfeiting your examination fee. No other forms of ID may be used for admittance to the exam.

Cheating and malpractice

• Giving or receiving help during the exam
• Copying from, or in any other way colluding with, other candidates in the exam room
• Taking into the exam and/or using books, notes, unapproved calculators, mobile phones and other such unauthorised items
• Failing to abide by the instructions of the invigilator
• Impersonating another candidate for the exam (or allowing someone to take the exam in your place)
• Removing notes made during the exam from the exam room

Abusive and Vexatious Communications

CFA UK employees and people undertaking work on behalf of the CFA UK will not be subjected to harassment and will not engage with customers (either members or non members) who become abusive or whose complaints/enquiries are vexatious. Repeated complaints/enquiries from people who are abusive or vexatious may result in a complaint/enquiry taking longer to complete than necessary. CFA UK reserves the right to cease to communicate with a customer about a particular matter, or at all, if communication with the CFA UK is believed to be abusive or vexatious. CFA UK may also take disciplinary action against any candidate who is found to have demonstrated abusive or vexatious behaviour and is in breach of the CFA Code of Ethics. All forms of communication including email, letter and telephone or face to face conversations, are covered by this policy.

Provisional and Official Confirmation of Results

A print out of your provisional results will be provided at the end of your examination at the test centre. Please note that the provisional results are not final and may be subject to change.

Provisional examination results can also be viewed online three business days after the examination has been completed. Online results are strictly provisional and are only confirmed upon postal receipt of your official confirmation.

Examination results are not given out over the telephone.

Official, confirmed examination results will be posted to you within 21 days of the examination date. The results will be sent via post to the address you have requested, and if your employer has paid your examination fee your results will also be sent to your employer. Any change of employer must be notified as soon as possible in writing or via email to info@cfauk.org and we have no liability for sending your results to the wrong third party if you have not notified us at least 7 business days prior to the examination date. It is a candidate's responsibility to notify CFA UK of any changes to their postal address 7 business days prior to the examination date.

Replacement certificates may be provided to candidates who have lost or damaged the original. Requests should be made in writing, along with a photocopy of your photo ID (passport or driving license) and the payment of a certificate replacement fee.

To download all policies relating to the CFA UK examinations, please click here.

A qualification certificate confirming your examination result will be provided to candidates who have successfully completed a CFA UK examination. If an official confirmation has not been received, you must inform CFA UK within three months of your qualification date to obtain a free of charge replacement official confirmation. If a certificate has been received but is damaged, you must inform CFA UK within 10 business days of receipt, in order to obtain a replacement certificate and the damaged certificate must be returned to CFA UK.

Exemptions 

Exemptions against IMC Unit 1 or Unit 2 
Exemptions may be requested but are given entirely at the discretion of the CFA UK.

CFA UK reserves the right to deny individual exemption requests or to discontinue exemptions based on a particular examination at any time.

Exemption may be awarded to any applicant who holds the appropriate qualification(s) that appear on the CFA UK Exemption Policy.

By applying for exemption, applicants give express permission to CFA UK to confirm their qualification with CFA Institute or other awarding body.

Exemptions against Certificate in ESG Investing.
As this is a standalone qualification in its own right, no exemptions are available.

CFA UK may also provide special considerations and reasonable adjustments at its discretion, save as required by law.

Please direct any questions to info@cfauk.org.

Data sharing

You will be required to share your data with Pearson VUE when booking an examination and that data will be processed in accordance with their relevant terms and conditions and any privacy policy. CFA UK reserves the right to review member records on Pearson VUE's databases and you consent to CFA UK seeking, accessing and using such information[E3] .

Liability

• CFA UK's failure to issue or failure of a candidate to receive, due to reasons outside CFA UK's control, their qualification Candidate Membership and/or Pearson VUE log-in details within two business days of registration;
• Failure of a candidate to comply with Pearson VUE's terms and conditions;
• Failure of a candidate to attend and/or complete the relevant examination(s) for any reason including (but not limited to) due to that candidate's failure to provide accurate personal and/or exam details;
• Any action (or outcome of any action) taken against candidates where CFA UK or Pearson VUE has a reasonable suspicion of cheating or malpractice;
• CFA UK's failure to display and/or transmit exam results or certificates to a candidate, including (but not limited to) display and/or transmission of incomplete or inaccurate results;
• CFA UK electing not to send a replacement certificate if it is lost or damaged due to the act or omission of the candidate or a third party;
• Loss of or damage to exam certificates or results as a result of any act or omission of the candidate or a third party;
• CFA UK’s failure to score an examination result correctly, which may arise from syllabus updates or other examination changes; or
• CFA UK denying, discounting and/or discontinuing any qualifications or exemptions at any time; or
• CFA UK amending a qualification or syllabus from time to time.

Introduction

Official Training Manuals (OTM) are produced by CFA UK as a self-study solution for candidates for each qualification.

Each qualification OTM provides broad coverage of the qualification/unit syllabus, and will be updated as necessary to cover syllabus changes. Candidates are encouraged to visit the CFA UK website regularly to check for OTM updates and CFA UK shall have no liability for any loss or damage arising out of a candidate's failure to use the most up-to-date version of the OTM from time to time.

CFA UK does not represent or guarantee that reviewing the OTM will ensure that a candidate passes the relevant examination(s).

Payment and delivery

CFA UK reserves the right to amend the OTM fees from time to time. Fees are reviewed annually with regular increases that are typically slightly ahead of the rate of inflation to reflect the cost of operating and investing in the qualification.

To ask any questions about the OTM, please contact info@cfauk.org.

Payments can be made online using a credit or debit card, manually by bank transfer or by cheque. You may also purchase the OTM from CFA UK's offices, paying by credit or debit card, or cheque, provided that you have arranged this with CFA UK in advance.

CFA UK does not issue invoices for OTM purchases.

A delivery charge, which will be displayed at checkout, will apply to all orders and additional costs will apply for delivery outside of the UK.

Upon receipt of payment in cleared funds, OTMs will be sent out within five business days, however please allow up to 10 business days for delivery.

If your OTM has not arrived, please contact us within 30 business days of payment. We will investigate and, if appropriate, send a replacement. If your OTM is damaged upon receipt, please let us know within 10 business days of payment and we will investigate.

If you receive incorrect items in your order you will have to return them to us, but we will cover your reasonable postage costs of doing so.

Cancellations

CFA UK provide cancellation rights in accordance with the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (the Regulations). If you are not acting as a Consumer (as defined in the Regulations) then the following cancellation terms will not apply to your order and you should contact us if you do wish to cancel or vary your order.

 You may cancel your IMC OTM order at any time without giving a reason with 14 days of the date that you receive your order (the Cancellation Period).

To cancel an order, you must let CFA UK know that you have decided to cancel in writing. The easiest way to do this is to e-mail CFA UK at info@cfauk.org . Please provide CFA UK with details of your order to help us to identify it. If you send us your cancellation notice by e-mail, then your cancellation is effective from the date you send us the e-mail.

If you cancel your order within the Cancellation Period CFA UK will:

• refund you any charges that you have paid excluding the cost of delivery if your order has been dispatched;
• make any refunds due to you as soon as possible and in any event:
  • 14 days after the day CFA UK receive back from you any OTM(s) supplied ; or
  • (if earlier) 14 days after the day you provide CFA UK with evidence that you have returned the goods.
• CFA UK may make a deduction from any refund for loss in value of the OTM(s) returned if the loss is as a result of unnecessary handling by you. You are only liable for any diminished value of the OTM(s) resulting from handling other than what is necessary to establish the nature, characteristics and features of the OTM(s).

You must send back the OTM(s) or hand it(them) over to CFA UK without undue delay and in any event no later than 14 days from the date on which you communicate your cancellation of the order to CFA UK.

You will have to bear the cost of returning the OTM(s).

The provisions of this paragraph (Cancellations) do not apply to OTMs which are purchased in person from CFA UK on our premises.

Additional terms

CFA UK reserves the right to refuse orders for the OTM for any reason in its absolute discretion. All orders are subject to availability.

If an OTM cannot be sent for any reason, CFA UK's liability will be limited to a refund of the sums paid for the manual (including delivery).

Intellectual property

Please note that the OTM and all rights (including intellectual property rights) in and to it, and derived from it, are the property of CFA UK or its licensors. You may not copy, retransmit or deal in any manner with any content of the OTM without CFA UK’s express prior written consent.

You may not copy, scan, store, reproduce, re-sell or transfer to any third party all or any part of the OTM without our prior written consent.

Liability

CFA UK has no liability for any loss or damage that any person might suffer arising from:

• Failure of the OTM to be delivered other than as a result of CFA UK not sending it;
• Destruction or loss of, or damage to, the OTM following dispatch by CFA UK; or
• Failure by CFA UK to inform any person of any changes to the OTM or a qualification syllabus.

Last updated: 22 February 2021

Summary

This Privacy Policy explains what information we gather about you, what we use that information for and who we give that information to. It also sets out your rights in relation to your information and who you can contact for more information or queries.

Please read this Privacy Policy carefully. If you have any requests concerning your personal information or any queries with regard to our processing, please contact us at privacy@cfauk.org.

We may make changes to this Privacy Policy from time to time and any changes will be made available to you on our website or by other means.

Contents

This privacy policy consists of the sections set out below. Please click on the section below for ease of navigation.

• Who are we?
• How do we collect your personal data?
• What personal data do we collect?
• How do we process and use your personal data?
• What is the legal basis for processing your personal data?
• Who do we share your personal data with?
• International data transfers
• How long do we keep your personal data?
• How do we protect your personal data?
• What are your rights under the UK GDPR?
• Direct marketing and unsubscribing from marketing
• How can you contact us?

1. Who are we?

CFA Society of the UK (‘CFA UK’) is a not-for-profit professional body for investment professionals with its registered office at 4th floor Minster House, 42 Mincing Lane, London EC3R 7AE.  In this Privacy Policy, references to "we", "us" or "our" are references to CFA UK. 

CFA UK is a data controller for the purposes of UK GDPR (being the General Data Protection Regulation (Regulation (EU) 2016/679) (the "EU GDPR") as incorporated into UK law by the European Union (Withdrawal) Act 2018 and subsequently amended by the Data Protection, Privacy and Electronic Communications (Amendments etc.) (EU Exit) Regulations 2019 (SI 2019/419)).  This means we decide how and for what purposes your personal data is processed. The processing is governed by the UK GDPR and other applicable data protection laws.

2. How do we collect your personal data?

The term "personal data" is defined broadly under the UK GDPR as any data that from which a living individual can be identified. Personal data can include, but is not limited to, your name, address, email address, online identifiers (e.g., IP addresses), customer services data, feedback forms, location data, biometric data, financial information and much more. 

We collect your personal data both directly and indirectly. We collect your data directly when you:

• register for an examination;
• purchase examination training manuals;
• register, apply for, or renew your membership as a CFA UK member or as a CFA Institute member with CFA UK as your local society;
• create an account on the CFA UK website;
• register for events, courses, or online webinars;
• apply for or renew your Statement of Professional Standing (SPS);
• apply for pre-employment verification, directly, via your company or via a screening agency;
• register on CFA UK’s ‘Careers Centre’;
• use CFA UK’s online community platforms (‘Connect’) or Learning Platform (‘Discover’);
• join a special interest group;
• use a mobile application associated with delivery of a CFA UK product or service;
• register your interest in, or purchase, CFA UK’s products or services;
• volunteer with CFA UK or sign up as a mentor or mentee;
• use CFA UK social media channels;
• respond to surveys, or speak to us via telephone;
• correspond with us by phone, email or otherwise; and
• use our websites.

All CFA UK qualifications include the opportunity for candidates to request reasonable adjustments prior to taking an examination.  As part of this application process, personal data classified as a "special category" data may be collected. Such data is also collected where candidates wish to request a special consideration. This classification of data includes data about your health.  Where you are requesting a reasonable adjustment or special consideration, we will always seek explicit consent from you to process that information for the stated purpose only.

We may collect your personal data indirectly via our relationship with your employer, CFA Institute or third parties who may purchase products or services on your behalf, for example, training providers.

3. What personal data do we collect?

We may collect the following personal information:

• your name, gender, date of birth, contact details, employer, job role, training provider, country of registration and sitting, if you are an examination candidate;
• identification documents for the purposes of verifying your name if you are an examination candidate;
• examination result and assessment data, history of qualifications held if you are or were an examination candidate;
• special categories of data, if you are an examination candidate and you wish to share this data with us for the purposes of a reasonable adjustment / special consideration application;
• if you are a CFA UK member, your name, date of birth, contact details, employer, your job role, payment transactions, and a record of your interactions with us;
• if you volunteer with CFA UK, a record of your volunteer interactions;
• details about products and services you have purchased to enable delivery of a contract;
• if you are a user of CFA UK’s online communities, learning platforms, websites, social media or mobile applications, then details regarding your interactions with those systems;
• any consents and preferences provided by you, via email, telephone or otherwise;
• your unique identification number(s) provided by the regulator or by other professional bodies;
• information in relation to your application for an SPS and responses you or your employer may have provided in relation to your SPS and the Continuing Professional Development (CPD) audit;
• details on your membership with CFA Institute, including your CPD record;
• details of any publicly available criminal convictions, your disciplinary history with CFA UK and CFA Institute including our contact with other professional bodies and the regulator.

Please note that we do not store payment card details on our systems. If you make a card payment online to pay for CFA UK services or products, you will be redirected to a secure payment service provider who will take your payment on our behalf and then return you to our website when your order has been completed.

We may ask you to complete surveys or questionnaires from time to time. If you complete them, we may use the information collected to personalise the website and to target marketing to relevant users.

We also collect usage and tracking data from devices you may use to connect to our websites or services using cookies and other internet tracking software. For information on the cookies we use and the purposes for which we use them, please read our cookies policy.

4. How do we process and use your personal data?

There are a number of main methods of interaction with us: as a CFA UK qualification Candidate, as a local CFA UK Member, as a CFA Institute Member with CFA UK as your local society, as a CFA UK volunteer, or as a non-member individual interested in CFA UK’s products and services.  

Based on those areas that apply to you, we collect and use your personal data for the following purposes:

• to communicate information about the products or services in which you have expressed an interest;
• to communicate information about products and services directly related to those which you have already purchased / subscribed to;
• for CFA UK, CFA Institute, or the CFA Society in your country if you are based outside the UK, to communicate information about products or services that relate to a CFA UK examination you have registered for;
• to verify your identity;
• to manage our relationship with you and administer your account, including payments;
• to provide a qualification service, monitor examination results and performance, entitlements, digital badging, and ancillary products;
• to maintain and manage your history of accreditations and qualifications;
• to provide membership services and associated benefits of membership;
• to provide services relating to the issue of Statements of Professional standing, including sharing information with other professional bodies as needed;
• to provide the online community platforms that enable members and volunteers within a community to share ideas and resources;
• to deliver, track and optimise our websites and learning platform services to members;
• to maintain the online member and volunteer directories;
• to book places on CFA UK events or courses including the delivery of the event or course and necessary follow-on processing;
• to carry out statistical analysis, reporting, regulatory reporting and to improve our services;
• to meet internal operational requirements;
• to fulfil contracts with CFA Institute and/or a registered CFA Society in your country, relating to CFA UK’s qualifications;
• to investigate and resolve complaints; and
• to carry out disciplinary, audit and regulatory functions.

5. What is the legal basis for processing your personal data?

We rely on one or more of the following processing conditions in order to process your personal data:

• to perform our obligations under any contracts that have been agreed with you in relation to membership, for qualifications, events or courses, verification services or Statements of Professional Standing (SPS);
• our legitimate interests in the effective delivery of information and services to you and in the effective and lawful operation of our businesses (provided these do not interfere with your rights);
• to satisfy any legal and regulatory obligations to which we are subject; and
• where no other condition for processing is available if you have agreed to us processing your personal data for the relevant purpose.

6. Who do we share your personal data with?

We share your personal data on your behalf for the purposes described in this Privacy Policy with CFA Institute, CFA Member Societies, and service providers of CFA UK.  We take reasonable steps to ensure they act in accordance with our instructions and that they put suitable security measures in place to adequately protect your data.  Where we share this data with our service providers, we may allow them to process it for the purposes of providing their services to us or complying with their own legal obligations.We do not give permission to our service providers to market to you for their own purposes without your explicit consent.

We share your personal data with the following parties:

• Pearson VUE and NCS Pearson Inc., based in the UK, the European Economic Area (‘EEA’) and in the USA, who deliver examinations on our behalf, or any other examination partners selected from time to time;
• third party providers for delivery of products and services, based in the UK, the EEA or in the USA;
• training providers who administer examinations on your or your employer’s behalf;
• your employers who may book you onto an examination, purchase services or products on your behalf or who may provide information relating to an SPS (Statement of Professional Standing) application or renewal;
• where you have successfully completed a CFA UK qualification, with a digital credentialing provider;
• where you are a CFA UK ESG Certificate in Investing examination candidate or certificate holder, based in a country outside the UK, with the CFA Society in that country;
• where you are an event registrant, with event sponsors, event and course venues, providers or firms who manage our events and courses;
• CFA Institute, based in the UK, the EEA and in the USA, where you are or were a joint member or a CFA Program candidate or a CFA UK ESG Certificate in Investing examination candidate or certificate holder;
• other CFA UK and CFA Institute board members, volunteers, members, and other CFA UK interest-based communities that you may choose to join, via our online community platform where your name will be made visible within the platform for the purpose of such parties communicating with and identifying you;
• other professional bodies and regulators;
• our board members to the extent necessary for them to correspond with individuals who have attended board meetings in order to encourage further participation in CFA UK committees and groups;
• members of the public, if you hold a CFA UK SPS (Statement of Professional Standing) and they contact CFA UK to additionally request confirmation of your CFA UK membership status; and
• other third parties where you provide consent to do so.

7. International-data-transfers

The UK is still permitting the free flow of data from the UK to the European Economic Area (EEA), maintaining the position pre-1 January 2021 (subject to any future announcements by the Government). Further, despite the end of the Brexit Transition Period on 31 December 2020, the EU has announced that the transfer of data from the EEA to the UK will remain compliant with the EU GDPR until 1 July 2021. Transfers of data between the UK and the EEA therefore continue to be compliant with both the UK GDPR and the EU GDPR.

We transfer your personal data to countries outside of the UK and the EEA for the purposes of delivery of examinations, events or courses, for the purposes of administering your membership record or SPS application, and for providing online community platform services and career’s centre services. If you are a joint member of CFA UK and CFA Institute, or if you are a CFA Program candidate or a CFA UK ESG Certificate in Investing candidate, your data will be transferred outside of the EEA as part of our data sharing arrangements with CFA Institute.

Where we collect your personal data within the UK or EEA, transfer outside the EEA will only be:

• to a recipient located in a country which provides an adequate level of protection for your personal information; and/or
• under an agreement or mechanism which satisfies EU requirements for the transfer of personal data to data processors or data controllers outside the EEA, such as standard contractual clauses approved by the European Commission or the EU-US Privacy Shield Framework in relation to transfers of personal data from the EEA to the USA.

8. How long do we keep your personal data?

We retain your personal data for as long as it remains necessary in relation to the purposes for which it was collected.  For examination candidates we hold your data indefinitely as proof of your examination history or your having sat the examination. After you cease being a customer of CFA UK, we may continue to hold your data to enable CFA UK to respond to questions or to complaints or to comply with legal or regulatory requirements.

9. How do we protect your personal data?

To protect the security of your personal data, we have appropriate technical and security measures in place including both physical and technical safeguards.  We have a governance model that ensures adequate policies, procedures and controls are in place to manage the risks.

Although we use appropriate security measures once we have received your personal data, the transmission of data over the Internet (including by email) is never completely secure. We endeavour to protect personal data, but we cannot guarantee the security of data transmitted to or by us.

10. What are your rights under the UK GDPR?

Under the UK GDPR you have the rights listed below, however they do not all apply in all circumstances. If you wish to exercise any of these rights, we will explain at the time if they apply or not. You have the right to:

• access, rectify or request erasure of your personal data;
• restrict the processing of your personal data;
• request the portability of your personal data;
• object to our processing of your personal data; and
• withdraw your consent to our processing of your personal data (to the extent such processing is based on consent and consent is the only permissible basis for processing).

You also have the right to lodge a complaint with the UK’s data protection regulator, the Information Commissioner’s Office: https://ico.org.uk/for-the-public/.

11. Marketing and unsubscribing from marketing communications

Where we are legally required to obtain your consent to provide you with marketing materials, we will only provide you with such marketing materials if you have provided consent for us to do so. 

If you want to unsubscribe from mailing lists or any marketing, you should follow the unsubscribe link provided in the relevant communications. 

If you do not wish to receive marketing communications from us, you can at any time contact us to request that such communications cease.  If you choose to unsubscribe from any or all mailings, we may retain information sufficient to identify you so that we can honour your request.

You can manage your email preferences via the CFA UK preference centre which is included in a link on all CFA UK emails you receive.

12. How can you contact us?

If you wish to contact CFA UK, please do so via the Contact Us details shown on our website.

If you wish to make a subject access request, please do so via email to privacy@cfauk.org with ‘Subject Access Request’ in the title of the email.

If you have any questions or concerns about our use of your personal data, or would like to exercise one of your rights set out above, please contact us at privacy@cfauk.org.

If you are a data subject based in the EU, we are required by Article 3 of the EU GDPR to appoint a representative based within the EU for data subjects based within the EU to correspond with if you do not wish to contact us directly. The details of this representative are: 

Prighter GDPR-Rep by Maetzler Rechtsanwalts GmbH & Co KG

c/o CFA Society of the UK

Address:

Schellinggasse 3/10
1010 Vienna
AUSTRIA

Website: https://prighter.com

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Last updated: 22 February 2021

The following Society websites (shop.cfauk.org, secure.cfauk.org and learning.cfauk.org) uses cookies and other tracking devices, as described below, to collect information automatically.

What is a cookie?

A cookie is a small text file that is downloaded onto ‘terminal equipment’ (e.g. a computer or smartphone) when the user accesses a website. It allows the website to recognise that user’s device and store some information about the user’s preferences or past actions.  This file is neither a virus nor spyware.

Most web browsers have options that allow you to control whether or not to accept cookies and give you the option to delete all cookies. However, please note that disabling cookies in your browser may prevent access to some parts of our Site.

Below is a detailed list of the cookies stored against each website in our online delivery:

Secure.cfauk.org

The Secure.cfauk.org website is used for taking event bookings, local CFA UK qualification and Candidate membership applications, local membership renewals and profile management for non- CFA Institute linked contacts.

The system uses two cookies.

• ·oxid - Logged in user cookie which is a session cookie used by our online events platform to keep items in your basket when shopping online.These cookies expire when the browser is closed.
• ·oxau - Member login credentials cookie which is a permanent cookie that is used to allow members to automatically login without the need to reauthenticate each time they access the site.

  Shop.cfauk.org

  The Shop website is used for taking CFA UK qualification and Official Training Manuals (OTM) registrations.

• Logged in user cookie which is a session cookie used by our online events platform to keep items in your basket when shopping online.These cookies expire when the browser is closed.
  
  

LMS.cfauk.org - Unicorn Learning Management system (LMS)

The Unicorn LMS requires the use of session cookies to operate. This type of cookie does not need explicit consent as it is required for the operation of the platform.

Google Analytics

We currently use Google Analytics across all three websites to measure and analyse visitor information related to our web site. For that purpose, your IP address, Internet traffic data and data on your browser type and PC are collected using several cookies (_utma, _utmc, utmb, utmz):

• _utma is used by Google Analytics to identify first-time site ('unique') visitors vs. returning visitors. It expires after two years
• _utmc identifies unique visitors vs. returning visitors but expires when you close your browser.
• _utmb is used for general visitor tracking and expires after 30 minutes.
• _utmz tracks source visits (the origin of the visit). It expires after six months.

Clear Gifs (Web Beacons/Web Bugs)

Our websites may also employ a software technology called clear gifs (a.k.a. Web Beacons/Web Bugs), which helps us to better manage content on our sites by informing us what content is viewed or clicked on. Clear gifs are tiny graphics with a unique identifier similar in function to cookies. In contrast to cookies, which are stored on a visitor's computer, clear gifs are embedded invisibly on web pages and e-mails and are about the size of a period.

Consent

By using the Site, you consent to the collection and use of the information by CFA UK in the ways outlined above. CFA UK reserves the right to alter this Privacy Policy from time to time and any changes will take effect from the date they go live on the Site.

Preamble

The Code of Ethics

• Act with integrity, competence, diligence, respect, and in an ethical manner with the public, clients, prospective clients, employers, employees, colleagues in the investment profession, and other participants in the global capital markets.
• Place the integrity of the investment profession and the interests of clients above their own personal interests.
• Use reasonable care and exercise independent professional judgment when conducting investment analysis, making investment recommendations, taking investment actions, and engaging in other professional activities.
• Practice and encourage others to practice in a professional and ethical manner that will reflect credit on themselves and the profession.
• Promote the integrity of, and uphold the rules governing capital markets.
• Maintain and improve their professional competence and strive to maintain and improve the competence of other investment professionals. 

Standards of Professional Conduct

I. PROFESSIONALISM

A. Knowledge of the Law. Understand and comply with all applicable laws, rules, and regulations (including the CFA Institute Code of Ethics and Standards of Professional Conduct) of any government, regulatory organization, licensing agency, or professional association governing their professional activities. In the event of conflict, comply with the more strict law, rule, or regulation. Do not knowingly participate or assist in and dissociate from any violation of such laws, rules, or regulations.

B. Independence and Objectivity. Use reasonable care and judgment to achieve and maintain independence and objectivity in your professional activities. Do not offer, solicit, or accept any gift, benefit, compensation, or consideration that reasonably could be expected to compromise your own or another’s independence and objectivity.

C. Misrepresentation. Do not knowingly make any misrepresentations relating to investment analysis, recommendations, actions, or other professional activities.

D. Misconduct. Do not engage in any professional conduct involving dishonesty, fraud, or deceit or commit any act that reflects adversely on your professional reputation, integrity, or competence.

E. Competence. Members and Candidates must act with and maintain the competence necessary to fulfil their professional responsibilities.

II. INTEGRITY OF CAPITAL MARKETS

A. Material Non-public Information. If you possess material non-public information that could affect the value of an investment you must not act or cause others to act on the information.

B. Market Manipulation. Do not engage in practices that distort prices or artificially inflate trading volume with the intent to mislead market participants.

III. DUTIES TO CLIENTS

A. Loyalty, Prudence, and Care. You have a duty of loyalty to your clients and must act with reasonable care and exercise prudent judgment. You must act for the benefit of your clients and place your clients’ interests before your employer’s or own interests. In relationships with clients, you must determine applicable fiduciary duty and must comply with such duty to persons and interests to whom it is owed.

B. Fair Dealing. Deal fairly and objectively with all clients when providing investment analysis, making investment recommendations, taking investment action, or engaging in other professional activities.

C. Suitability.
1. When in an advisory relationship with a client, you must:

a. Make a reasonable inquiry into a client’s or prospective clients’ investment experience, risk and return objectives, and financial constraints prior to making any investment recommendation or taking investment action and must reassess and update this information regularly.
b. Determine that an investment is suitable to the client’s financial situation and consistent with the client’s written objectives, mandates, and constraints before making an investment recommendation or taking investment action.
c. Judge the suitability of investments in the context of the client’s total portfolio.

2. When responsible for managing a portfolio to a specific mandate, strategy, or style, only make investment recommendations or take investment actions that are consistent with the stated objectives and constraints of the portfolio.

D. Performance Presentation. When communicating investment performance information, make reasonable efforts to ensure that it is fair, accurate, and complete.

E. Preservation of Confidentiality. Keep information about current, former, and prospective clients confidential unless:

1. The information concerns illegal activities on the part of the client or prospective client.
2. Disclosure is required by law.
3. The client or prospective client permits disclosure of the information.

IV. DUTIES TO EMPLOYERS

A. Loyalty. In matters related to your employment, act for the benefit of your employer and do not deprive your employer of the advantage of your skills and abilities, divulge confidential information, or otherwise cause harm to your employer.

B. Additional Compensation Arrangements. Do not accept gifts, benefits, compensation, or consideration that competes with, or might reasonably be expected to create a conflict of interest with, your employer’s interest unless you obtain written consent from all parties involved.

C. Responsibilities of Supervisors. Make reasonable efforts to detect and prevent violations of applicable laws, rules, regulations, and the Code and Standards by anyone subject to your supervision or authority.

V. INVESTMENT ANALYSIS, RECOMMENDATIONS, AND ACTION

A. Diligence and Reasonable Basis.
1. Exercise diligence, independence, and thoroughness in analysing investments, making investment recommendations, and taking investment actions.

2. Have a reasonable and adequate basis, supported by appropriate research and investigation, for any investment analysis, recommendation, or action.

B. Communication with Clients and Prospective Clients.
1. Disclose to clients and prospective clients the nature of the services provided, along with information about the costs to the client associated with those services. 

2. Disclose to clients and prospective clients the basic format and general principles of the investment processes used to analyse investments, select securities, and construct portfolios and promptly disclose any changes that might materially affect those processes.

3. Disclose to clients and prospective clients significant limitations and risks associated with the investment process. 

4. Use reasonable judgment in identifying which factors are important to their investment analyses, recommendations, or actions and include those factors in communications with clients and prospective clients.

5. Distinguish between fact and opinion in the presentation of investment analysis and recommendations.

C. Record Retention.

1.Develop and maintain appropriate records to support their investment analysis, recommendations, actions, and other investment-related communications with clients and prospective clients.

VI. CONFLICTS OF INTEREST

A. Avoid or Disclose Conflicts. Members and Candidates must avoid or make full and fair disclosure of all matters that could reasonably be expected to impair their independence and objectivity and interfere with respective duties to their clients, prospective clients, and employer. Members and Candidates must ensure that such disclosures are prominent, are delivered in plain language, and communicate the relevant information effectively. 

B. Priority of Transactions. Investment transactions for clients and employers must have priority over investment transactions in which you are the beneficial owner.

C. Referral Fees. Disclose to your employer, clients, and prospective clients, as appropriate, any compensation, consideration, or benefit received from, or paid to, others for the recommendation of products or services.

Introduction

CFA UK is an Accredited Body for the purposes of issuing SPS in line with the Financial Conduct Authority’s handbook.

CFA UK will issue an SPS on these terms, to members of CFA UK, if a member is eligible based on the criteria below. 

Please note that if CFA UK ceases to be an Accredited Body, for whatever reason, it will become unable to issue or reissue an SPS.

An SPS may be issued annually to eligible members in the form of a certificate for the CFA UK SPS year, which is from 1 January to 31 December each year. The SPS application is via the CFA UK website.

To apply for an SPS, members must fulfil the following criteria (as assessed by CFA UK at its absolute discretion):

 
• Hold the required RDR-approved qualifications;

• Be a current, fully-paid up CFA UK member;

• Adhere to the CFA UK Code of Ethics and Standards of Professional Conduct and be in good professional standing;

• Pay the SPS fee; 

• Be certified as 'fit and proper' by your firm (if the firm falls within the Senior Managers and Certification Regime, or APER for Appointed Representatives);

• If regulated under the FCA, you must be issued with an Individual Reference Number (IRN) and have an active FCA directory entry;

• Agree to the SPS terms and conditions documented here;

• Have completed a minimum of 35 hours of CPD in the 12 months prior to applying (to 31 October annually) with at least 21 hours being structured and 14 being unstructured learning hours (unless this is your first SPS application);

• Agree to comply with the FCA’s Code of Conduct (COCON) or FCA's Statement of Principle and Code of Practice for Approved Persons (APER), whichever is relevant to their role;

• Agree to be subject to selection for the CPD audit of their CPD log or record;

• Apply within the relevant time period in accordance with applicable conditions as outlined in this document:

• A late renewal application from 1 January to 31 January – CFA UK will notify the applicant and their compliance officer that their application is late. CFA UK will backdate the SPS to 1 January and remind the member that they need to apply on time next year, by 30 November.  
• A late renewal application from 1 February onwards  – CFA UK will notify the applicant and their compliance officer that their application is late. CFA UK will date the SPS from the date that the application was received.
• A late renewal application from 1 March onwards –  CFA UK will notify the applicant and their compliance officer that their application is late. CFA UK will date the SPS from the date that the application was received. 
  • The FCA will be notified where there has been a gap of more than 60 days from the end date of the previous SPS and new SPS start date. A formal alert to the FCA will only be issued if there has been conduct concerns. 

• If you are a first time SPS applicant with CFA UK but have previously held an SPS with another accredited body you must provide a copy of your most recently held SPS

The decision as to whether to accept an SPS application, or not, is entirely at the discretion of CFA UK. Each SPS is issued by CFA UK and CFA UK will determine, in its absolute discretion, its period of validity. CFA UK may also reject an SPS application or cancel a previously issued SPS for any member at any time, including (but not limited to) if that member ceases to fulfil any of the above criteria, or if CFA UK becomes aware of any conduct or other issues that may have altered CFA UK’s decision to issue an SPS at the time of processing.

Data sharing

In order to process an SPS application, CFA UK must take steps to assess and/or confirm an applicant’s eligibility. By submitting your application, you agree and acknowledge that your data may be shared in the following ways:

1. For members of CFA Institute, or CFA candidates who are or were registered with CFA Institute for a CFA Program exam, CFA Institute, can release and/or disclose to CFA UK, and can authorise CFA UK to use, release and/or disclose to any relevant third party (as determined by CFA UK, acting reasonably), any and all information which CFA Institute possesses relating to the applicant’s membership, or membership application with CFA Institute. This includes, but is not limited to the applicant’s qualifications, continuing professional development activities, and any professional conduct information, including, but not limited to, any complaints, investigative files, professional conduct proceedings or disciplinary actions. 

2. CFA UK can provide to the Financial Conduct Authority (or other appropriate regulators), your employer, previous employer, CFA Institute (if you are a CFA Institute member or current or past CFA Program candidate) and other Accredited Bodies, any information needed relating to professional conduct, including, but not limited to, any complaints, investigative files, professional conduct proceedings or disciplinary actions, your CPD record and your current or previous SPS.

3. CFA UK will use and request information from your employer, possibly your previous employer, other professional bodies or relevant third parties relating to but not limited to your qualifications, competency and the completion of your CPD record.

4. If you hold an SPS with CFA UK, CFA UK can release information to the Financial Conduct Authority, or the general public if an enquiry is received, as to whether you hold a CFA UK SPS, whether an SPS was withdrawn or cancelled by CFA UK, details relating to your length of membership of CFA UK and/or CFA Institute and your current membership status for the purposes of consumer protection.

Personal data will be processed by CFA UK in accordance with the GDPR or other relevant data protection legislation. CFA UK’s privacy notice is available online: 
https://www.cfauk.org/privacy-notice#gsc.tab=0

Conditions

By submitting your application, you agree and acknowledge:

1. that you have complied, and will continue to comply, at all times with the CFA UK Code of Ethics and Professional Conduct Statement applicable to you;

2. that we may verify or investigate details you have provided to us, or that you provide in the future;

3. that there is a degree of discretion and judgement involved on our part when assessing whether you have met the criteria required for us to issue any qualification(s) or an SPS, and that we will rely in making such decision(s) on information provided by you and also by relevant third parties, and that the exercise of that discretion may not always be in your favour;

4. to keep us informed if from time to time: your circumstances change, any of the facts set out in your application cease to be accurate, or anything happens or is alleged to have happened which could affect your professional standing or your eligibility for the SPS; and

5. that we are permitted to correspond with you at the email or postal address you have given us, that you will inform us promptly if that address changes, and that we will have no liability for any loss or damage you suffer as a result of our sending correspondence to the address you have most recently notified to us in writing;

6. that we may cancel, reject, revoke, withdraw or otherwise amend any qualification(s) or SPS that we have issued to you if we have reasonable grounds to believe that you:
 
I. fail, or have ceased, to meet the criteria for the same, or

II. have provided us with false or misleading information

III. breach, or have breached, the relevant CFA UK Code of Ethics and Professional Conduct Statement applicable to you; or

IV. have failed to notify us of a relevant matter that arises (for which purpose, we would recommend that you err on the side of disclosure whether something might be relevant and should therefore be disclosed); and

7. that you will comply with all the requirements of the CPD audit, if selected, and that your SPS will be withdrawn and cancelled if you do not; and

8. that you may face disciplinary action if you fail to comply with any of the above terms and conditions.

CFA UK reserves the right to refuse to issue or renew an SPS if any of the above criteria are not met, or until such time as CFA UK is satisfied that there is no misconduct or risk of misconduct which may put a member's clients' interest at risk.

SPS Fee

CPD Audit

It is the responsibility of the member to undertake CPD and to log their own CPD and to ensure they meet any annual requirement to which they may be subject. 

SPS applicants need to follow CFA UK’s CPD policy. 

The CFA UK CPD year runs 01 November to 31 October. People who are renewing their SPS are required to undertake 35 hours of CPD, of which 21 hours are structured CPD, and must ensure they have addressed their development needs and outcomes. 

SPS holders need to log the required information regarding the CPD undertaken in their CPD record/log and need to be able to provide proof of attendance for their structured CPD. Proof of attendance will be assessed as CFA UK deems appropriate. SPS holders do not have to use a log provided by CFA UK for the purpose.

10% of members with an SPS will be selected for audited on an annual basis and all SPS applicants will be subject to selection. Candidates will be informed via email if they are selected for audit and will be required to submit evidence of their CPD within the timeframe specified by CFA UK in the email.

If a member does not reply to emails or attempts to contact them in relation to the CPD audit or submission of information relating to the CPD audit, CFA UK reserves the right to cancel the SPS or the SPS application (without a refund) after three attempts. In this situation, an email will be sent to the email address used for the SPS application notifying the applicant that the SPS or the SPS application has been cancelled.

CFA UK reserves the right to contact a member's employer, previous employer, third party CPD provider, other Accredited Bodies, CFA Institute or the Regulator for SPS auditing purposes. 

Members, who are found via the audit process, to have not complied with the CPD requirements, may have their SPS cancelled by CFA UK if it has already been issued. 

If an SPS has not yet been issued, members who have not complied with the CPD requirements will not be issued with an SPS 

Appeals relating to the outcome of the SPS audit can be submitted in writing no later than two weeks after the audit results are released to sps@cfauk.org with ‘Appeal’ in the title.

Liability

CFA UK does not accept any liability for any loss or damage that any person might suffer arising from its failure to issue or renew an SPS, or its rejection, cancellation or withdrawal of an SPS already issued.

CFA UK does not accept any liability for any loss or damage that any person might suffer arising from  a disciplinary or investigative procedure commenced by CFA UK, CFA Institute, an employer or the Regulator if it believes that the person or member has provided false or misleading information or is otherwise not in compliance with the relevant Code of Ethics and Standards of Professional Conduct.

CFA UK does not accept any liability for any loss or damage that any person might suffer arising from the sharing of information relating to a person holding an SPS, their SPS application, SPS renewal, SPS cancellation or withdrawal. 

Registrations

Data sharing

CPD Record

Liability

CFA UK has no liability for any loss or damage that any person might suffer arising from: 

• A third party's or CFA UK’s failure to hold an event as advertised;
• Attendance by a member at a non-approved event or at an event offered by a non-approved provider, including any failure to update the member's CFA UK record as a result of the same;
• Failure by CFA UK or a member to update that member's CPD record;
• Any audit being held which demonstrates that any person's CPD log is incomplete or inaccurate;
• CFA UK not notifying or reminding members to achieve their CPD target;
• A member attending training that is not fit for their purposes or appropriate for their requirements;
• Any processing of any person's personal data by a third party provider; or
• The consequences of any member's failure to prove or demonstrate that they have (1) attended events for which CPD credits might be awarded or (2) achieved the skills and understanding required for any qualification.

Introduction

CFA UK may issue, from time to time, written verifications of the following matters for its members and candidates: 

• the fact that a member has passed IMC, ASIP and/or CFA Program exams sat in the UK;
• the fact that a person is a CFA UK member; and/or
• the designation of a particular CFA UK member.

Process

Verification requests must be sent by email to verifications@cfauk.org. CFA UK will issue verifications by e-mail and CFA UK does not provide copies of certificates or hard copy confirmations of qualifications, membership or designations. Verifications will only be sent to the e-mail address from which the request for verification was sent and any addresses which were copied in to that original request.

CFA UK may refuse any request for verification in its absolute discretion and does not offer refunds for verifications that it provides.

Payment may only be made by credit or debit card and these must be sent at the same time as the request. The details supplied will only be used to take payment for the verification, and the card details are not stored by CFA UK once the payment has been successfully taken. Payment will not be taken until the verification request is processed by CFA UK.

Verifications will not be processed unless the correct documentation has been supplied. CFA UK will process requests in the order in which they are received with all required documentation and, if that supporting information is not received within one month of the initial verification request, CFA UK will discard the request and take no further action in its respect.

CFA UK reserves the right to request certification as proof of qualification for verification processes. 

CFA UK does not issue invoices for verifications or issue receipts unless requested in writing (which may be done at the same time as the verification is requested).

CFA UK will verify all the qualifications obtained by the relevant candidate or member from CFA UK and CFA Institute in the UK unless expressly requested not to do so by the member in their consent form. 

CFA UK will provide information regarding membership to those who email directly with a verification request. People who are contacted are under no obligation to take up membership, and can request to be unsubscribed from the mailing list.

Liability

CFA UK has no liability for any loss or damage that any person might suffer arising from: 

• Any verification supplied by CFA UK;
• Any failure by CFA UK to issue any verification (including but not limited to in circumstances where CFA UK exercises its discretion not to issue any verification requested);
• Any failure by CFA UK to issue any verification due to incomplete details or documentation being provided by the relevant member, or payment failing; or
• Any verification dispatched by CFA UK failing to be received by its intended recipient.

Introduction to the Platform

CPD Library

CPD Certificate Programmes

Method of allocating CPD activities

Accessing the Platform

Ownership of content and use of content

Information about your use of the Platform

Cancellation for consumers

Communications

Your use of the Platform

Limitation of liability

Viruses and misuse

General

Your concerns