waivers for passing any level of the CFA exams. Greece The Capital Market Commission (CMC) waives licensing requirements for the position of investment analyst and portfolio manager for those who have passed CFA Level III. Hong Kong The Government of Hong Kong officially recognizes the CFA Charter as a professional qualification. The Hong Kong Securities and Futures Commission (SFC) considers the passing of CFA Level I to be recognized as an industry qualification for various licensing exams. The Academic and Accreditation Advisory Committee of the SFC has approved the CFA designation as a recognized industry qualification for the licensing of Responsible Officers in Hong Kong. CFA Society Hong Kong (formerly The Hong Kong Society of Financial Analysts Limited) is recognized by the SFC as an institution for providing Continuous Professional Training (CPT). Continuing Education programs and seminars organized by CFA Society Hong Kong qualify for CPT hours. Indonesia The Financial Services Authority of Indonesia (FSA) requires that any collective investment scheme must have at least one CFA Charter-holder. Ireland The Institute of Banking exempts CFA Charter-holders from 2 out of 6 modules required for the Professional Diploma in Financial Advice. Israel The Israel Securities Authority (ISA) requires six exams and an internship to become a portfolio manager. Exams include Securities Law and Ethics, Accounting, Statistics and Finance, Economics, Securities and Financial Instrument Analysis and Portfolio management. CFA Charter-holders are automatically considered to have completed five out of six exams. Malaysia The Securities Commission Malaysia (SC) requires Capital markets Services Representatives License (CMSRL) applicants to pass various exams. CFA Charter-holders are waived from four exams. Mexico The Comision Nacional del Sistema de Ahorro para el Retiro (CONSAR) grants the general finance certification permanent license to people which have completed the CFA Institute Investment Foundations Program. Netherlands The Dutch Securities Institute (DSI) recognizes the completion of the CFA Level 1 exam as being sufficient for the qualification to be a Financial Analyst. The Dutch Securities Institute (DSI) recognizes CFA Charter-holders as automatically meeting the qualifications requirement to be a Senior Fund Manager. Peru The Superintendencia del Mercado de Valores, La Superintendencia del Mercado de Valores (SMV) recognizes applicants who have passed CFA Level I to be approved for the role of portfolio manager. Philippines The Securities and Exchange Commission Philippines requires at least one fund manager must have passed CFA Level 1 in order to manage mutual funds. Portugal The Comissão do