AIMR members resoundingly defeated a proposal that would have required CFAs to meet a 20-hour-a-year continuing education requirement. The proposal, strongly opposed by many chartered financial analysts, won only 41% of votes cast; 56% were opposed, and 3% abstained. Two-thirds approval was needed to amend the bylaws. A record turnout of 69% of eligible voters cast ballots.
Rich Wyler, a spokesman for the Association for Investment Management and Research, said the vote was not a referendum on the associations board, noting only 6% of members voted against board members up for re-election.