University of Waterloo – School of Accounting and Finance Wins The 2024 CFA Society Toronto Ethics Challenge

Toronto, Feb. 12, 2024 (GLOBE NEWSWIRE) — University of Waterloo – School of Accounting and Finance Demonstrates High Financial Ethical Standards

On February 08, 2024, University of Waterloo – School of Accounting and Finance was awarded the winning title of the 2024 CFA Society Toronto Ethics Challenge. The team members demonstrated their ability to expertly negotiate ethical dilemmas in a real-life investment scenario and presented their case to a panel of seasoned investment professionals. The team will move on to compete at the national competition, hosted by CFA Societies Canada on May 4, 2024.

“At CFA Society Toronto, our mission is to create opportunities for our members to raise standards and make high quality contributions toward a trustworthy financial community.  Promoting the highest standard of ethics is core to this mission and that was fully evident at this year’s Challenge.” said Fred Pinto, CFA, CEO of CFA Society Toronto. “We congratulate all participating teams and notably the winning team from University of Waterloo. Our industry is extremely well-positioned to build and enhance our mission as witnessed by these talented students from across the Toronto and South-Western Ontario region.”

“First and foremost, we must thank CFA Society Toronto for hosting such an amazing event and making everything possible. It was a phenomenal experience to participate in this year’s Ethics Challenge and we came through with a stronger sense of what it means to practice good ethical decision making in the real world and motivates us to work with a strong sense of integrity and honesty.” Expressed the University of Waterloo Ethics team. “We also want to express our sincerest appreciation to the School of Accounting and Finance, University of Waterloo for their unwavering support as we look forward to having them continue to have our backs as we progress to the national round. Let’s bring the national title back to Ontario!”

The first Ethics Challenge was conceived and produced by CFA Society Toronto in 2014. Now in its milestone tenth year, the Ethics Challenge has grown to become a national competition, hosted by CFA Societies Canada. The Ethics Challenge is designed to increase students’ awareness of the ethical dilemmas and issues they may face as investment management professionals.

Teams consisting of students from finance or business programs (usually from CFA Institute’s University Affiliation Program) were assigned an ethics case to analyze and evaluate. Each team then presented its analysis and recommendations to a panel of judges. Following a question-and-answer period after each team’s presentation, the judges then selected a winner. To determine the winning team, the judges use a grading rubric that is based on the quality of the team’s understanding of the ethical issues involved, their recommendations, and the quality of their analysis, presentation, and responses to the judges’ questions. The judges’ ultimate decision hinges on the excellence displayed across these crucial dimensions.

This year’s competing teams were students from DeGroote School of Business – McMaster University, School of Accounting & Finance – University of Waterloo, Schulich School of Business – York University and University of Toronto, Scarborough.

The winning team, University of Waterloo – School of Accounting and Finance, will advance to the national level of the competition at the 2024 CFA Societies Canada Ethics Challenge on May 3, 2024. The national level of the competition will include local winners from CFA Societies across Canada.

The 2024 CFA Society Toronto Ethics Challenge is proudly sponsored by RBC Global Asset Management. 

About CFA Society Toronto
Founded in 1936, CFA Society Toronto is part of the worldwide network of CFA Institute member societies that lead the investment profession globally by promoting the highest standards of ethics, education and professional excellence for the ultimate benefit of society. CFA Society Toronto represents the interests of over 11,000 investment professionals in the Greater Toronto Area through advocacy, education, events, and professional development.  For more information visit or follow us on Twitter @CFAToronto and on LinkedIn CFA Society Toronto

Founded in 1936, CFA Society Toronto supports the professional and business development of over 11,000 CFA® charterholders in Toronto, making it the largest CFA Society in the world. CFA Society Toronto provides members with a local perspective on a global designation, including educational programs, events, job postings, quarterly member magazines, and networking opportunities. 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. For more information visit or follow us on LinkedIn at CFA Society Toronto.

Chartered Financial Analyst® and CFA® are registered trademarks owned by CFA Institute.



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