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Old September 21st, 2013, 04:40 PM
Default CFA Society UK IMC

Can anyone here provide me the syllabus of Unit 1 The investment environment as I am going to give Investment Management Certificate examination?
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Old September 22nd, 2013, 10:52 AM
Super Moderator
Join Date: Dec 2011
Default Re: CFA Society UK IMC

Investment Management Certificate (IMC) panel of CFA Society is responsible for:
The provision of the IMC examination
The IMC syllabus
The Official Training Manual (OTM)

The IMC syllabus:

Unit 1: The investment environment

Topic 1: The UK Financial Services Industry – a European and
Global context

Demonstrate an understanding of the UK financial services industry, in its
European and Global context

Section 1.1: The Financial Services Industry and the role of
1.1.1 explain the functions of the financial services industry;
1.1.2 evaluate the role and impact of the main financial institutions;
1.1.3 explain the role of government including economic and
industrial policy, regulation, taxation and social welfare.

Section 1.2: The Impact of EU Directives, Regulations and
Guidance on the Investment Industry
1.2.1 explain the legal status of EU Directives and Regulations within
the UK;
1.2.2 explain the role and powers of the European Securities and
Markets Authority;
1.2.3 explain the purpose and scope of the Markets in Financial
Instruments Directive (MiFID) with respect to:
- passporting
- roles of the home and host state
- financial instruments covered by the legislation;
1.2.4 explain the purpose and scope of the UCITS Directives
1.2.5 explain the purpose and scope of the European Market
Infrastructure Regulation (EMIR)
Topic 2: Financial Markets
Demonstrate an understanding of UK and International financial markets
Section 2.1: UK equity and fixed interest markets
2.1.1 identify the main dealing systems and facilities offered in the
UK equities market;
2.1.2 identify the nature of the securities that would be traded on
each of the above systems and facilities;
2.1.3 explain the structure and operation of the primary and
secondary UK markets for gilts and corporate bonds;
2.1.4 explain the motivations for and implications of dual listing of a
Section 2.2: Types of markets
2.2.1 compare and contrast exchange trading and over-the-counter
(OTC) markets
2.2.2 distinguish between the following alternative trading venues:
- Multilateral Trading Facilities
- Systematic Internalisers
- Dark Pools
2.2.3 distinguish between a quote-driven and order-driven market;
2.2.4 explain the roles of the various participants in the UK equity
2.2.5 explain high-frequency trading, its benefits and risks.
Section 2.3: Settlement procedures in UK
2.3.1 explain the clearing and settlement procedures for UK
exchange traded securities.
Section 2.4: Regulation of UK investment exchanges
2.4.1 explain the role of an investment exchange;
2.4.2 explain the need for investment exchanges to be recognised;
2.4.3 explain the relevance of investment exchanges being
recognised by the FCA;
2.4.4 explain how the Bank of England regulates clearing houses in
the UK
2.4.5 identify the recognised investment exchanges and clearing
houses in the UK;
2.4.6 identify and distinguish the roles of
- the London Stock Exchange (LSE)
- NYSE Liffe
- LCH.Clearnet.

For more information, here I am providing an attachment:

The CFA Society of the UK
2nd Floor, 135 Cannon Street
London EC4N 5BP
Fax: +44 (0)20 7280 9620
+44 (0)20 7280 9636
Email: info@cfauk.org

Attached Files Available for Download
File Type: pdf The IMC syllabus Unit 1 The investment environment.pdf (36.2 KB, 14 views)
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