Ethics in finance. Better world

The Ethics Challenge is a new initiative of CFA Society Poland. The Ethics Challenge summons students to analyze a situation with a “grey” area where right or wrong may not be apparent. Student teams are given a case study with an ethical dilemma and present their recommendations to a panel of senior charterholders/judges). A question and answer period follows and a champion is later announced during a cocktail reception.

The Ethics Challenge strives to embody CFA Institute’s global mission to promote “the highest standards of ethics." It touches on many of CFA Institute’s Future of Finance pillars: Transparency and Fairness, Regulation and Enforcement and Safeguarding the System. It also promotes ethical awareness and fosters a healthy financial environment.

How it works

Each team must have two to four (2—4) members. The faculty adviser assembles the team and guides them throughout the process.
Teams will present their analysis and recommendations to a judging panel of CFA charterholders based on the case study by CFA Society Poland. The competition is 100% presentation based; which includes: a 10 minute presentation and then 10 additional minutes to respond to questions from the judges.

Please note: the competition is ENTIRELY IN POLISH

The first prize is CFA Program scholarship or finance reward.

For all teams participating in the local final of Ethics Challenge we prepared a special gift! You will receive a two-volume "K.I.S.S." publication. Explore with us a world of BIG finance

Official Statement by CFA Society Poland. Covid-19

With a respect to our community because of the COVID-19 outbreak we decided to inaugurate the next edition of the Ethics Challeng only by sending an email with an ethical case to students.


Official rules of the competition (the current edition) available only in Polish (choose Polish language at the top of the website).

20 March - 25 April 2020 — Competing universities must confirm participation in Ethics Challenge with CFA Society Poland. Names of team members must be submitted.

27 April 2020 — CFA Society Poland present online (by sending an email) an identical ethics case to all competing universities. Teams work on ethics case and presentation. 

13 May 2020 — the deadline for presentations: 10 AM CEST

20 May 2020 — Information who will be qualified for the final stage of the competition

29 May 2020 — Ethics Challenge final in Warsaw.


Benefits of Participating

  • CFA scholarship or financial reward
  • Valuable real-world experience
  • Networking opportunities
  • Direct interaction with financial professionals
  • Build your CV/resume
  • CFA Program scholarship

Register directly your team at office@cfa.com.pl.
Deadline: 25 April 2020

Members of CFA Institute (including CFA charterholders) and candidates for the CFA designation (“Members and Candidates”) must:
Judging panel
 Participants of Ethics Challenge 2019


Finalists of Ethics Challenge 2019 


Winning team from Cracow University of Economics



CFA Society Poland is one of the 146 member societies of CFA Institute. It was established on April 14th, 2004. There are local member societies in more than 70 countries/territories, and have more than 135,000 members in 150 countries/territories.

The Society promotes the highest ethical standards in Polish investment community. CFA Society Poland gathers professionals involved in broadly defined investment and financial management. This group includes portfolio managers, financial analysts, investment advisors, risk managers and many other finance professionals.

Contact Person:

Monika Grabek, Executive Director
Mobile: +48 668 870 211

Jakub Jański, Marketing and Communication Coordinator
Mobile: +48 798 068 139

e-mail: office@cfa.com.pl