“The focus on implementation of robust regulations, especially among the developing nations, should not be seen as a discouraging factor from the investors’ standpoint but should follow the developed economies in enforcing robust regulatory regimes,” Bob Johnson, Senior Managing Director at the CFA Institute USA, said in an interview.

“The financial crisis, which has shattered the confidence of investors, needs to be restored through practical steps including good governance, business ethics and knowledge.”

Johnson, who was in Bahrain as part of a 10 regional countries visit, said that the immediate reasons behind the financial crisis were based on a pyramid namely crisis of ethics, confidence and incentives.

“If you just analyze the unfolding of events during the crisis period, you will find that too many people working in the market were somehow lacked adequate levels of ethics, knowledge and experience. There are three basic pillars being inculcated into the candidates through extensive three levels of on-job training in all CFA programs. CFA being the most robust training program is still very affordable and perhaps on the lowest side in terms of expenses,” he said.

Johnson, who was joined by CFA colleagues Lamees T. Al-Baharna from Bahrain, said that the growing interest among professionals to seek CFA certifications speaks volumes of the kingdom’s financial health and bright future for the overall services sector, especially in the fields of banking and finance.

“The 2010 list for candidates tops 570 in Bahrain, 730 in the Saudi Arabia and 2,002 in the UAE. This is a very healthy indicator and shows the awareness about the training and development in the financial sector,” he said.

The CFA mission, he said, is to raise standards in the global investment industry in addition to creating employment opportunities and raising the standards of living.

“The Chartered Financial Analyst (CFA) designation is a mark of distinction that is globally recognized by employers, investment professionals and investors as the definitive standard — the gold standard — by which to measure serious investment professionals,” he added.

“To earn the CFA charter, a candidate must successfully pass through the CFA Program, a practice based, graduate level self-study program that combines a broad curriculum with professional conduct requirements and emphasizes the highest ethical and professional standards.”

The standards and financial market integrity division addresses issues of fairness, efficiency and investor protection in global capital markets and promotes high standards of ethics, integrity and professional excellence within the investment community.

In a nutshell, the standards and financial market integrity division provides guidelines on code of ethics and standards of professional conduct, global investment performance standards (GIPS), extensible business reporting language (XBRL) and asset manager code of professional conduct.

There are more than 100,000 investment professionals who are members and membership spans 160 countries and territories with 135 affiliated professional societies in 58 countries.

Johnson, who joined CFA in September 1996, is currently senior managing director for the CFA Institute and is responsible for three broad activities, including education, advocacy and developing the organization’s Americas strategy.