CFA Institute and ICFAI Univ patch up

The institutes have reached an agreement to withdraw all pending court proceedings in the 15-yr dispute

After being embroiled in a trademark litigation for 15 years, the  US-based Chartered Financial Analyst (CFA) Institute and the Institute of Chartered Financial Analysts of India (ICFAI) have finally patched-up.

The institutes have reached an agreement to withdraw all pending court and administrative proceedings related to this dispute.

“We are pleased to reach an agreement with ICFAI on this issue, and believe this is an appropriate settlement to a long-standing dispute,” said Ashvin Vibhakar, CFA, managing director of Asia Pacific operations at CFA Institute.

“With this issue behind us, we look forward to maintaining a strong focus on the support of our members and candidates in India, and our continued commitment to advance the Indian investment profession," added Vibhakar.

This dispute resolution comes three months after CFA Institute and the country's technical education regulator, the All India Council for Technical Education (AICTE), decided to end their six-year long legal battle.

AICTE had taken CFA Institute to the court claiming the institute's programme does not have the technical regulator's approval to operate in India. CFA on its part had maintained that its course does not fall under AICTE's ambit.