Litigation between CFA Institute and AICTE resolved

KOLKATA: The uncertainty surrounding the CFA exam in India has now come to an end. The pending litigation between CFA Institute and the All India Council for Technical Education ( AICTE) has been resolved, enabling the former to once again administer the CFA Program in India.

CFA Institute had challenged before the Delhi High Court a 2007 AICTE order prohibiting the CFA Program in India. At a hearing held on April 17, 2012, the AICTE declared that its executive committee had concluded that the existing AICTE Regulations do not apply to the CFA Program.

In a statement, John Rogers, CFA, president and CEO of CFA Institute, said, "We welcome the decision of the AICTE and we appreciate the AICTE’s additional review. CFA Institute is very pleased to clear this uncertainty over the CFA Program for the benefit of all Indian candidates."

He added: "Candidates can now freely register for the exam in India in order to gain the CFA designation. We look forward to the continued growth of the CFA Program in India, and our contribution to the growth and development of India’s financial markets." There were more than 20,400 exam registrations in India in fiscal year 2011, which is one of the largest markets globally.