Can I Use the Designation

Schweser Q:

Ken James has been an independent financial advisor for 15 years. He received his CFA Charter in 1993, but did not feel it helped his business, so he let his dues lapse this year. He still has several hundred business cards with the CFA designation printed on them. His promotional materials state that he received his CFA designation in 1993. James:

I think that he is in violation if he uses his promotional materials. Schweser disagrees as this is a statement of fact.

My thought it that by writing you received the CFA designation, you imply you are a CFA charterholder which would be a violation.

Any thoughts?

It is misleading for sure. I agree with you. I’d be surprised to see something this debatable on the exam

It a statement of fact that most people would misinterpret. I think that the CFAI does not have a specific rule against this wording. Even if the CFAI made a rule against making this kind of statement, the rule would be inapplicable and irrelevant to a lapsed charterholder. So in practice, there is nothing that the CFAI could do to Ken James.   This is probably why there is nothing in the CFAI Standards addressing the situation.