CFP OFFERS NEW DESIGNATION
Greenwood Village, Colo. - The College for Financial Planning has made available the Accredited Portfolio Management Advisor credential, or APMA, an education program for financial advisors interested in investment management theory, security valuation, and overall portfolio design and management.
Students must complete a two-part program to earn the APMA designation. The first part is a self-study or six-week online instructor-led classroom program that focuses on core concepts. Upon completion of the first phase, students will move on to a four-week online classroom that teaches direct application of the core concepts, including the construction of a class-managed portfolio based on real-time market data.
In addition to receiving the designation, graduates will receive credit for one of five courses in the college's CFP Certification Education Program and three hours of graduate credit in the college's Master of Science degree program.
WHISTLEBLOWERS GET HEARD
New York - Research in the July issue of The Accounting Review, a journal of the American Accounting Association, suggests that media reports of whistleblower allegations of financial fraud lead to multiple woes for targeted companies.
The study analyzed the stock performance of 81 companies after whistleblower allegations of financial misconduct were reported in the media, and found that in the five days surrounding such reports, the stocks of accused companies experienced a 2.84 percent average drop in price compared to the market as a whole. The drop was 7.3 percent when the allegations concerned earnings management. There were also long-term weaknesses: The median stock performance of accused companies was significantly lower over the course of the next two years than that of similar firms that were not accused. In addition, within three years of the time that whistleblower stories appeared in the media, 17.9 percent of the firms involved had to restate their financial results, and 26.9 percent were sued for financial misconduct.
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