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CFA Society South Africa 2021 Ethics Challenge for Investment Professionals


The Ethics Challenge is a competition for CFA charterholders and other investment industry professionals that analyse a case study which contains a variety of ethical dilemmas. The case is developed by the society in conjunction with CFA Institute and incorporates common ethical issues and the application of the CFA Institute Code of Ethics and Standards of Professional Conduct.


5 Teams consisting of 5 randomly selected members create a presentation based on their analysis and present virtually to a panel of judges. The presentation primarily focuses on violations of the CFA Institute Code of Ethics and Standards of Professional Conduct and recommendations about how these violations should be addressed.



The core objective of the competition is to raise the knowledge and awareness of ethics and ethical considerations in acts/behaviours of practitioners in the South African investment industry.

The Ethics Challenge for Investment Professionals has four main objectives:

To promote the highest standards of ethics, education and professional excellence

To help participants gain ethical decision-making experience

To provide participants with exposure to real-world ethical dilemmas

To enhance participants' professional networks


The Process

Step 1:           Register and complete the multiple-choice pre-assessment screening test, closing date 31 May 2021.

Step 2:           Announcement of Top 25 successful applicants who will then be randomly selected and placed in 1 of the 5 teams of 5 members.

Step 3:           The 5 Teams will be given an ethics case study and the CFA Institute Code of Ethics as reference to prepare a presentation for the final challenge.

Step 4:           The virtual challenge will include presentations by the 5 teams to a panel of Judges. The winning team will be announced live at the virtual event on the 31st July 2021.

Requirements to Participate

(please note all participants should be from the SADC region)

Participants must be working in the investments industry

Open to CFA charterholders and non-charterholders

Open to CFA Society South Africa members and non-members

Willingness to work in a team and dedicate time to the challenge and team requirements 


Register and complete the multiple-choice pre-assessment screening test

Closing date is Monday, 31 May 2021


For further viewing please view the Ethical Decision-Making webinar with Sonia Gandhi, CFA Director-Ethics Education & Professional Standards at CFA Institute - click here to view.