Can CA aspire CFA?

Hi freinds,

I'm a final student. I wish to pursue CFA after completion of CA course. when i browsed CFA's website, i came across the following.

"Recently in May 2007 the Supreme Court pronounced a judgment permitting CAs to pursue the CFA Program. Thus CAs are now free to enroll into the CFA Program and use the Chartered Financial Analyst designation after successful completion of the program. However, students may still find an earlier restriction on page 22 of the prospectus (2007) issued by the CA Institute. In view of the recent Supreme Court judgement, this restriction is invalid. The ICFAI University has already written to the CA Institute to remove this restriction from the prospectus".

But ICAI refused to recognise CA cum CFA on the grounds that the designation "CFA" resembles with our members designation "FCA" which may create a confusion in the society as well it also contravenes provisions of CA Act & regulations. (but i'm not sure about this reason, absolutely it's my guess!)

Does anybody know more details regarding this issue. please sort out this and help me.

Thanks and my Best wishes to everyone

K. Sathish

Well, you can definately pursue CFA ( ICFAI ) after you complete your CA & you can defiantely apply for the membership of both the Institutes' & can use the acronyms' of both the qualifications'... Long before, approximately in the late 80s ICAI had passed a stringent restrecting the members of the Institute ( ICAI ) to pursue CFA ( ICFAI ). The order was challenged by ICFAI in the Hon. Supreme Court which passed the verdict in favor of ICFAI. The stand taken by ICAI at that point of time was that the acronyms' FCA & CFA are similar & would give a wrong interpretation of ones' qualification,however, the stand was quashed...Although the restriction hasn't been deleted by ICAI from it's membership requirements' , one can take up the qualification ( CFA ) siting the decision of tha Hon.Supreme Court... Warm Regards', NM