The Governance of GIPS and the CFA Institute
The role of the CFA Institute and governing bodies of GIPS
CFA Institute* will sponsor the meetings and the work of the RIPS. RIPS are the Regional Investment Performance Subcommittees.
There are three of them: RIPS Americas (North America and Canada), RIPS Emea (Europe, Middle East, Africa) and RIPS Asia-Pacific. Together the RIPS form the GIPS Council, headed by the (elected) Council Chair. The GIPS Council ensures the full representation of all GIPS Country Sponsors.
The CFA Institute will provide administrative support (staffing, communication, scheduling of conference calls) also.
The running of GIPS on a daily basis is entrusted to the GIPS Executive Council (GIPS EC), a standing committee of the CFA Institute’s “Centre for Financial Market Integrity”. This is the main body which develops, interprets, promotes and implements the GIPS Standards. This work is based on the proceedings of seven to nine subcommittees:
- The GIPS Council,
- The Investors/Consultants Subcommittee,
- The Investment Management Subcommittee,
- The Verification/Practitioners Subcommittee,
- The Interpretations Subcommittee,
- Promotion Subcommittee,
- Awareness Subcommittee.
The different GIPS bodies meet regularly in person or via conference calls.
*The CFA Institute “Centre for Financial Market Integrity” is the policy authority on ethics in the global capital markets. This Centre is a body established by the Global Association of Investment Professionals (The CFA Institute, which is also the USA Country Sponsor of GIPS).