Media Releases

Rotman School of Management puts ethics first at second annual ethics challenge

February 4, 2015

TORONTO, ON – CFA Society Toronto and CFA Institute congratulate students from the University of Toronto’s Rotman School of Management Master of Finance program for their second consecutive win at the CFA Society Toronto Master of Finance Ethics Challenge. The champion team, Roger Brown, Mahtab Faruqui, Sheng Fei and Michael Szaura had a unique perspective that featured an in-depth investigation of ethical issues alongside commentary on ethical optics. The integrity of the financial industry depends on leading by example.

“At CFA Institute, we define Ethics as: Effective Thinking about Honesty Integrity Character Suitability. So, ethics begins with ‘thinking about it’.” Said Michael McMillian, Director, Ethics and Professional Standards at CFA Institute.

Master of Finance students rolled up their sleeves and focused on a comprehensive case study at the second annual Master of Finance Ethics Challenge and reception held in Toronto on January 13, 2015. Teams from Queen’s University, Rotman School of Management, and Schulich School of Business were given a month to analyze a specific scenario, and prepare a 10-minute presentation on the appropriate course of action, and present their findings for a panel of esteemed investment industry practitioners.

“We feel very honoured to have participated and won the challenge for the second year in a row. Learning to solve real life ethical dilemmas using sound judgment and ethical principles has been a very rewarding experience for us. We are very grateful to CFA Institute and CFA Society Toronto for hosting this event and for their commitment in promoting the highest standards of ethics, education and professional excellence,” said Team Member Sheng Fei of the Rotman School.

The goal of this competition is to allow finance students to examine real industry circumstances that new CFA charterholders may face and provide them with the analytical and ethical ammunition required to face real-life conundrums throughout their careers. By showing the importance of ethical decision making from the start of one’s career, financial professionals can improve the functioning of capital markets and build the perception of trustworthiness that practitioners enjoy within the investment community and in general. They can help build trust in the future of finance by working with the next generation of financial professionals.

About CFA Society Toronto

CFA Society Toronto supports the professional and business development of more than 8,300 CFA charterholders in Toronto, making it the second largest CFA Society in the world. It provides members with a local perspective on a global designation, including: educational programs, sponsored events, job postings, quarterly newsletters, a comprehensive affinity program 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

About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 127,000 members in 147 countries and territories, including 120,000 CFA charterholders, and 144 member societies. For more information, visit


About The Master of Finance program at the Rotman School of Management

The Master of Finance program at the Rotman School of Management, Canada’s top finance school, is positioned to accelerate the careers of working professionals in finance.  Classes in the program take place every Wednesday evening and every other Saturday over 20-months. For more information, visit

The Rotman School of Management is located in the heart of Canada’s commercial and cultural capital and is part of the University of Toronto, one of the world’s top 20 research universities. The Rotman School fosters a new way to think that enables our graduates to tackle today’s global business challenges.  For more information, visit


For more information:

Ken McGuffin
Manager, Media Relations
Rotman School of Management
University of Toronto
Voice 416.946.3818
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