The Spanish Institute of Financial Analysts (IEAF) and the University College of Financial Studies (CUNEF) of Spain have signed an agreement for the recognition of CUNEF´s Master in Financial Institutions and Markets to be accredited with the Certified European Financial Analyst (CEFA).
This agreement is the first one signed with a Spanish higher education institution, after those previously achieved by EFFAS with top-level universities from other European countries, such as France, Norway, Portugal, Hungary or Finland, among others.
The CEFA title is validated by the Spanish regulator of the financial markets, the National Securities Market Commission (CNMV), to perform information and financial analyses for clients. Since January 2018, it has been a mandatory requirement for professionals in the banking sector in Spain to have a rating recognized by the CNMV, in application of the European regulation MiFID II (Markets in Financial Instruments Directive), which harmonizes the regulation of financial instrument markets.
The CEFA is also recognized as an appropriate qualification by the Financial Conduct Authority (FCA) in UK and by regulators of the financial services of several European countries, as well as Argentina and Brazil.
The Master in Financial Institutions and Markets of CUNEF is taught in Madrid. Students who pass the master's degree and exams, since the agreement was approved as CEFA certification exams, will obtain this certification. The current participants in the master's degree will be able to benefit from this possibility in the current academic year 2018-2019, as well as the upcoming academic year 2019-2020.
The Master will include all the contents of the CEFA title: economy, analysis and valuation of fixed income, variable income and derivative instruments, corporate finance, portfolio management, legal framework (Spanish and European regulations), ethics and taxation.
The commission monitoring the agreement is composed of Jesús López Zaballos, manager of Escuela FEF (the training centre of the IEAF) and chairman of EFFAS; and Luis Díaz Marcos, postgraduate manager of CUNEF.