UBC Sauder Bachelor of Commerce students Neekita Bhatia and Adrienne Ellis, and MBA student Darwin To, have won the first ever CFA Ethics Challenge in BC. The event was hosted by the CFA Society of Vancouver and involved teams from across the province.


The first CFA Ethics Challenge in Canada was held in 2014 by the CFA Society of Toronto. This year, the CFA association decided to expand the competition to every province in the country. It aims to spread awareness about the CFA Code of Ethics by exposing students to ethical dilemmas in the financial industry.


The competition involved analyzing a financial case through the lens of the CFA Code of Ethics. The teams had several months to analyze the cases and presented their findings to a panel of expert judges.

The team was supported by UBC Sauder Professor and CFA charter holder Joy Begley, Peter P. Dhillon Center for Business Ethics Academic Director and UBC Sauder Professor Dale Griffin, Dhillon Centre Executive Director Christie Stephenson, UBC Sauder undergraduate student Jessica Ljustina, and UBC Sauder and UBC Portfolio Management Foundation (PMF) alumnae Candice Williams who is also a CFA charter holder.

Having placed first in BC, the UBC Sauder team will be competing in the National CFA Ethics Challenge at the beginning of June. Begley will travel to Toronto with the team which will compete with other provincial winners.

Stephenson characterized the Challenge as “an excellent way for the students to both learn about the CFA and also think through ethical issues in the financial services industry in a very tangible way."