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Chartered status originates from royal charters issued to professional bodies in the UK by the British Monarch, although such is the prestige and credibility of a chartered designation that some non-UK organisations have taken to issuing chartered designations without Royal or Parliamentary approval.
There are four forms of regulated profession in the UK, with respect to the European directives on professional qualifications: professions regulated by law or public authority; professions regulated by professional bodies incorporated by royal charter; professions regulated under Regulation 35; and the seven sectoral professions with harmonised training requirements across the European Union. [5]
The institute offers qualifications, training and professional membership. It holds the UK licence to award the Certified Financial Planner (CFP) designation. Amongst the qualifications offered is the Diploma in Capital Markets which covers the areas of securities, investment, compliance, derivatives, corporate finance and operations. [2]
A royal charter is a formal grant issued by a monarch under royal prerogative as letters patent.Historically, they have been used to promulgate public laws, the most famous example being the English Magna Carta (great charter) of 1215, but since the 14th century have only been used in place of private acts to grant a right or power to an individual or a body corporate.
The Privy Council subsequently rejected this proposal over concerns about the term 'public'. It did however agree that any accountancy body bearing a royal charter could use 'chartered' as part of its designation. 1996: Chartered Association of Certified Accountants renamed to Association of Chartered Certified Accountants.
The designation is built on extensive global research to maintain the highest relevance with employers and develop the competencies most in demand. CGMA professionals are business strategists who can link the board's objectives with those of organisation's, guiding critical business decisions and creating sustainable business success.
List of organisations in the United Kingdom with a royal charter is an incomplete list of organisations based in the United Kingdom that have received a royal charter from an English, Scottish, or British monarch. There are over 900 bodies which have a UK royal charter. [1] and a list of these is published by the Privy Council Office. [2]
The Chartered Management Institute (CMI) is a professional institution for management based in the United Kingdom.It was founded as the British Institute of Management (BIM) in 1947 or 1948, merged with the Institution of Industrial Managers (IIM) in 1992 to form the Institute of Management (IM), and gained a royal charter, and its present name, in 2002.