European Federation of Financial Analysts Societies

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The European Federation of Financial Analysts Societies (EFFAS)[1] is the federation of analysts associations in Europe. EFFAS comprises 25 member societies representing more than 14,000 investment professionals. EFFAS was founded in 1962 and the headquarters is located in Frankfurt, Germany.

Member societies include interalia analysts associations from France [2], Germany [3], Italy, Russia, Spain, Poland [4], Ukraine, Finland, Switzerland [5] and Greece ([[[6]]]).

EFFAS helped to develop the Certified International Investment Analyst (CIIA) examinations, a financial analyst designation recognised mainly in Europe and Asia. Analysts who belong to European analyst associations that are members of EFFAS, are eligible to participate on the CIIA examination, if they pass at least 12 hours of national exams, or if they hold the Certified EFFAS Financial Analyst diploma (CEFA), which takes different national variations into account or, in some cases, the American Chartered Financial Analyst diploma (CFA). The CIIA now replaces the CEFA exam as the requisite Finance Diploma. CIIA has currently over 50,000 finance professionals and an internationally recognised advanced finance designation, much sought after in Europe, Australia and Asia. Its only other rival designation is the American CFA designation with over 60,000 charter holders and globally accepted.