Canadian Ethics Challenge sets sights on building foundation for Canada’s financial future

Toronto, Ontario, 12 March, 2018 – Twenty-two of Canada’s brightest young minds have been identified through CFA Societies Canada’s second annual national Canadian Ethics Challenge. Universities from across Canada were invited to participate in regional competitions where they were each assigned an identical case study to review and present to CFA societies across Canada.

The case study included an ethical dilemma and teams were judged based on their ability to identify all ethical issues outlined within, in accordance to the CFA Institute Code of Ethics & Standards of Professional Conduct, and their recommended course of action.

“Part of CFA Societies Canada’s mandate, as an extension of CFA Institute, is to ensure the highest ethical standards are met within our industry. We’ve been a driving force in ethical standards for the financial industry as part of our key activities since day one,” says Clayton Gall, Chair and President Council Representative of CFA Societies Canada. “This is the second year that we’re executing the challenge on a national scale and we’ve seen significant growth in interest compared to last year with a 40 per cent increase in entrants.”

This year’s competition secured representation from 26 post-secondary institutions across Canada with four semi-finalist teams presenting at the 2018 CFA Society Toronto Ethics Challenge.

“The 2018 CFA Society Toronto Ethics Challenge was a demanding and thought-provoking exercise for the four participating schools and they definitely rose to the challenge! The judges were amazed at how reflective and thorough the students were in identifying key ethical considerations and utilizing the CFA Code of Ethics and Standards of Professional Conduct in assessing the case. Even better, the students provided practical solutions to address the ethical infractions which showed real learning. I enjoyed participating and am optimistic that the students will utilize these valuable ethical learnings throughout their professional careers,” said Aaron Vale, CFA one of the competition’s judges.

The competition is designed to promote critical thinking, analysis and increase students’ awareness of ethical dilemmas they may encounter as they enter the workforce and move through their careers. Case studies are written to mirror real life ethical dilemmas that participants could one day encounter and intended to build a strong Future of Finance.

Regional finalist teams to compete in the 2018 CFA Societies Canada Ethics Challenge hail from:

  • Mount Royal University
  • Saint Mary’s University
  • Thomson Rivers University
  • Université de Sherbrooke
  • University of Ottawa, Telfer School of Management

These teams will compete for the national title in Vancouver, BC in early May. At the final competition, teams will be assigned a second case study and will have three hours for analysis before presenting to a live judging panel of CFA charterholders and participating in a live question and answer period. Following the panel’s deliberation, the winning team will be announced at a reception at Terminal City Club.

For more information about the Canadian Ethics Challenge, please visit CFA Societies Canada online.

About CFA Societies Canada

CFA Societies Canada is a collaboration of CFA Institute and the 12 Canadian member societies, whose mission is to build brand awareness of the CFA designation and to advocate for the highest standards of integrity and ethics for the ultimate benefit of Canadian investors. For more information, please refer to

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 150,000 CFA® charterholders worldwide in 165+ countries and territories. CFA Institute has eight offices worldwide and there are 149 local member societies. For more information, visit or follow us on Twitter at @CFAInstitute and on 

About CFA Society Toronto

CFA Society Toronto is Canada’s largest Society of CFA® charterholders, dedicated to supporting the professional and business development of over 9,500 members. We provide our membership with a local perspective on a global designation through our member services, which include: educational programs, sponsored events, employment postings, quarterly newsletters and networking opportunities. A not-for-profit organization, CFA Society Toronto is affiliated with CFA Institute, the global body that administers the Chartered Financial Analyst® curriculum and sets voluntary, ethics-based performance-reporting standards for the investment industry. CFA Society Toronto’s members are leaders in ethics in the financial community. For more information, please refer to

For media inquiries and interview requests, please contact:

Jonathan Mai
CFA Society Toronto
416-366.5755 Extension 235

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