The CFA Institute Research Rules remain similar to prior years and will be distributed to all teams competing. Copies of the rules can be found
As a reminder, please review the following:
- The teams are 3 to 5 individuals, either undergrads or grad students. There is a screening rule regarding eligibility.
You cannot have someone who holds a CFA designation (they may have passed exams, but cannot participate if they have been awarded the designation) nor someone who has been employed for more than 6 months as a fundamental research analyst on your team. This rule has been in place for several years, but a new process of checking resumes has been implemented. A violation will result in the disqualification of your entire team.
- A 30 minute webcast on Ethics should be viewed by all team members prior to the competition. Links to various Ethics presentations can be found on this or at CFA Institute's site. Students will need to register at CFA Institute site in order to compete.
- Students can review sell-side research; however, no sell-side research can be used within their reports. All work must be original. Students may not speak with sell-side analysts, unless that individual is their mentor. As a reminder, all mentors should be CFA charterholders and the rules regarding time spent with mentors must be strictly observed.
Southwest U.S. Research Challenge co-ordinators know if you need help in finding a CFA charterholder to help mentor your team. The name of the Challenge has been changed to: CFA Institute Research Challenge - Southwest U.S.
Changes at the Regional competition:
- Written reports cannot be changed between the Texas finals and Regionals. The slide deck may be changed and updated to be made current. The rating, buy, sell, or hold may be changed, but on the slides only.
- The written reports will be re-graded at Regionals. Overall scoring at Regionals will consist of 50% of the team’s written score plus 50% of their oral presentation score.
- Regionals will be held in a major city in the Americas region each year. The two top teams will go on to compete in the Global Competition.
We will be choosing 10 teams to present at the local challenge at TIPS. The finalists will be announced early in February.
2 teams will move on to Regionals.
Awards: 1) the 2 top teams will move on to Regionals--airfare and hotel will be paid for by CFA Institute and 2) the 6 local societies will pay for the next level of the CFA exam for each student on the top winning team, who are not otherwise eligible for reimbursment (i.e., their company does not cover the cost).
A few miscellaneous notes: Mentors, Graders, Judges, and Faculty Advisors involved in the Challenge who are CFA charterholders may claim up to 4 CE credits. A publication with be established listing Schools and Team Participants with contact information (if permission granted). This publication will be distributed to all members of the 6 participating societies in LA, OK and TX. This benefit should be limited to only current Southwest U.S. Research Challenge participants.