Reglstered Charlty No. 1139712
THE CHARTERED INSTITUTE FOR SECURITIES & INVESTMENT
EDUCATIONAL TRUST
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020

THE CHARTERED INSTITUTE FOR SECURITIES & INVESTMENT
EDUCATIONAL TRUST
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 202
CONTENTS
Page
Admlnistrative Infonllatlon
Trnstses. Report
St*tement of Trnstees? Responslbllltles
Independent Examlners Report
Statement of Flnanelal Aetlvllks
Balance Sheet
Statement of Cash Flows
io
Notes to the Flnanelal Statements
Page I

THE CHARTERED INSTITUTE FOR SECURITIES & INVESTMENT
EDUCATIONAL TRUST
ADMINISTRATIVE INFORMATION
SECRETARY:
Jim Win*r
CHARrrY NUMBER:
1139712
PRINCIPAL ADDRESS:
?0 Fenchurch Stre
ECJM JBY
BANKERS:
Bank of Scoijand
38 St Andrew Squate
INDEPENDENT ExAM￿ER.
Tina Alliwn FCCA
CtDwe U.L LLP
55 Ludg* Hdl
EC4M 7JW
Poge ?

THE CHARTERED INSTITUTE FOR SECURITIES & INVESTMENT
EDUCATIONAL TRUST
TRUSTEES, REPORT
The Tn￿e£S presertt their r4￿ and financial staiernents foT the yeor ended 31 December 20￿. The financial
stsiements have been prepared in acc(thce with the accounling p)licie5 set oul in the note5 to the accounts and
comply with thecharity's gOVtmin8d(xumenL theCh￿Ill¢S A¢1 2011 a￿1 Accounting and Reporting by Chariues..
Stathemt of Reeommended Practice applicable ¢0 clwiiie5 preparing their accounts in accordance with the
Financial Re¥orting Startdard applicable in the UK and Republic of Ireland published on 16 July 2014.
STRUCTUR4 GOVERNANCE & MANACEMENT
Con5tltutioD & Objects
The Chartered Instiwte for Securities & Inyestsneni Eth￿all0Nti1 Trt￿l is ¢￿￿1]IUl￿a as an unincoryorated rhurity
by a Declaration of Trt￿ da*d 12 Odober 2010. with the obiecl of promotsng for th¢ publi¢ btnefii the
advancemait and dissemination of l(nowiedge in the field of5¢q￿lI1¢s inv¢slment.
The Trjsi is registered with the Charity CLMnmiwO￿ reBistsatth ttumber 1139712.
Trustees
The followins individu#L4 all served as Trw*es thwwglKWt the[￿[1￿ unle55 otherwise 51ated.
FrAnk Moxon, Chartered FCSI (Hon)
Paul Cox
Andrew Porter. ChArtered FCSI
James Sullivan
Miehoel Coulon
Susan Trav¢r5, Ch4rt¢¥ed FCSI
Susan Wright. Chart¢T¢d MCSI lap￿Inted July 20?JJ)
Chartered ILstitule for 5¢curitie5 & Inv¢&1menL Tepre%nted by.
Nick Swales. DL, Chartered FCSI
The Tnjsiees me¢1 as necessary, bui at It￿ once a yur. lo Thew and coThtrol the Trust's affai￿ New Trustees
are appointed by the T￿￿ Boar
REVIEW OF FINANCIAL POSITION
Durittg the year, donatiotLS rteeived kntslled £IMI.(KK1 12019: £2(M),(Krf)) of which £150,CN)O came from The
Chanered InstiDJie for Securities & Investhitht. A total of lll? 156 WLS spent during the yeaT. Balances carried
roThvord at 31 December 2020 amounted to £l_1)6.879. The Tnl￿ees continued to develop plan5 for the use of
fimds and a straiegy pAperh¥s been pmdure
The following 15 4 ofthe key xtivitie5 that ￿0k place during 202tr.
Sponsored ¢r4chiug all41 leAruinE P•5t
The Trusl conlin[￿d to supwrt one fidbtime and one pan.thne Te*hiDg Aod Le•ming Sp¢¢ialisL both based at
the CISI offices. The roles support pfirther schools aThJ universili¢s in thtirdelivery of CISI quaSifi¢alion5 through
leaching session& revision by tsaining schwlt¢aclh¢r5 8Dd yDiva5ity kctyr¢r5 to deliver CISI progrnmmes
nd through managin8 schoul aThJ university r¢lation3hip&
Poge 3

THE CHARTERED INSTITUTE FOR SECURITIES & INVESTMENT
EDUCATIONAL TRUST
Sp0Tr50red Ttachlng P05t
The Trnsi continued io spoLqor a ieaehing post Ai caldets￿ in Liverpool. The walifieatititis currently
beirtg delivered is the CISI Level 2 FundarnertthLs of Financial Service& The sthdenL% hAve benefited from strong
links with loc￿ indw. including careers insight days and work experience. Students iti the second year of the
Liverpool Education Prngramme hav¢ beern panieÉpatin8 in TnLS1 fimmied employability workshops r￿lIt￿ted by
The T4leni Foundry.
Edwcallonal Trnst AwArds
The Tn￿1 continued to the Educational T￿￿ Awath celebraitng high academic stsndards amongst
pos(graduate and undergraduate students swdying CISI accrediied couffAs at par￿er universilies across the UK.
During 2020 students compded for an opportunity lo with the T￿￿t and receive an addiiional award.
The winning top underBr8duate and postgrwluate swdents recetved an additional award and were invited to the
CISI Annual Awards Ceremony. A iotsl of £16.644 was awarded io students who were nominated by their
universiiies.
CISI Global Award5
CISE in*rnaiional o(fices Worked with their local universiiies to aitract nominations for the Global Tntst Awards.
Students From different countries were in competiiion with exh other ￿ prothKe an outstsnding swdeni winner
from each region. There was no spend on these awards in 2020.
#Yourmoney Book dIStn￿￿￿on
The trusi diStribu￿d copies of ptrsoDal fmance IKMyk #Yoyrmtmey. The iMx)k provides vithl finjncial infonnation
for young people on earnin& ynding and savitiB. ]n 2020 the bLM)k w&$ distributed to scIN￿ls, universilies whd
to CISI commitiees. A iothl of £879 was speni.
During the year. the Chariry had no xtiviiies reqiiifin8 di￿1￿￿ wmler S¢ciion 162A of the Charities
Act2011.
PartherJhlp5
This year the tnjsi Iw pa1Th￿red with othtr elwities Ixelping yowig pe(5pie accets opportunities. The TaleDt
Foundry aims io AncreLse social mobility by working with sotne of the m051 challenged schools in the county. The
Young En*rprise emp)wers young people aged 15-19 to Sel up and run a IxLqintss for an xademic year. £9226
was sp¢ni on the Taleffj¢ Foundry WOBTllmm¢ and £5.(KKI was spenl on the Young Enleipri5e programme.
FLrruRE ACTIVITIES
Th¢ Ethicational Trust Awarts will run again in 20?1 with parlner univusities nominaiing students who will then
wTite an esgay on Busin￿ PuryK)se in Financial Service& Tr five widergrathiaie and FW)swathiaie smden
from around the county will be awarded an iniiial prize and invitrd ￿ ao intuview competiuon in Febnwy 2022
when the lop students will win additional award&
The TNst will be workins with Wiservell in 2021 a￿1 will review and apprvv¢ all con¢eDt JKothcd by Wi5erVest
before li is published for use by studEnLS Lnd ￿￿CherS with ￿soUr￿S expec*d ¢0 b¢ wvailabl¢ for the 51art of
academic year 20?1-22. Wiservesi ts g financial ethKation Platfo￿ cruted to help peopl¢ manag¢ their money
and learn how to invest. It is advancing fmancial literacy in the UL by makng il more xces5ible for people to
ke contml of their fthance& Wiservest commitS¢d ¢0 ￿E￿Ilng and delivering highly engaging fuwicial
education conten4 following the coft principk of simplifying invEsling and finjnce rela¢ed concepts.
The Covid.19 pa￿le￿i¢ ￿ ¢1￿1¢d to Co￿1￿￿ to drive a I￿gelY cfflline apwoach in 2021 as the TvJ5t in*racts
with schoolq and univer5ilies. moving lo a hyEKid model in futtwe.
Puge 4

THE CHARTERED INSTITUTE FOR SECURITIFS & INVESTMENT
EDUCATIONAL TRUST
TRUSTEES, REPORT ICOIYTINUED)
PUBLIC BENEF
The Trustees confm thai hAv¢ r¢f¢rffd w th¢ 8uid*K¢ ¢oDtsined in the Charity Commission's general
8uid8tice on public benefit when revi¢wing the TnL4'S #nd obj￿Ily¢S and in planning fvture activiiie5.
RESERVES POLICY
All the Current fund5 of the chariry which amoun1￿£1206￿79 (2019: £1,212336) are eottsidered io be restricted
ruDth.
Since the chaTity's main acliviiie5 are de￿ndent0￿ a sinsk source ofdoThatiODS. which is not &wr¢d, the Tru5ttts
feel thaL at thi5 51age in the life of the charity. a si8nifKant rrscrves buff¢r 15 required io ¢Dabl¢ them to m
longer lerni plan5. As the we of the adiviiies t¢com&s trN)re Cle￿ty defin¢l 50 loo will the l¢Yel of r¢serve5
that slKJuld be rnaintaine(L
There are no m8lerial uncenainii&s aboui the cljarity's ability to contitiue goiDg concern. The Trn5t hol
sufficient cash reserve5 to covu in exce￿ OF three years. adivity at the currEnt levd of Spend, Iwhich is
discTetionary.
RISK MANAGEMENT
The TnL8ittS have identified the major risks to whi¢h the Tn￿ is exp)5ed aThl have ensured thai adewie controls
exist to mitigate OT eliminate. in so far as p)S5ibl4 those risk&
GRAKT MAKING POLICY
Other than those relating lo Stephen Cwk< Athw Winckler. Jonathan Timnk& ChaTl&s Hoare Nairne. and the
Liver￿1 Learning Parthership, the funds held by the clwity have been dona*d by Tr Clwitted InstiMi¢ for
Seeuriiies & lrtvesth*n4 and their wqe is restri¢ied under the tern￿ ora letier from the donor. The particulars of
the restri¢¢ions are detsiled in note 6 ￿ the xc(￿￿1
I￿VE￿MENT POWERS AND PERFORMANCE
The Tryslees may deposit OT invest funds with all the p)wtts oran absOl￿t beneficiAI owrttt, provided that they
obthin advice from a financial exwi And have to the suitability of inve5tmenL4 and th¢ need for
diver5ificalion. To safeguard the long-icrm value of its ass¢ty in 2018 the TnLStees plac￿ £4￿,000 of the
Chjrity's reseryes in two equal amounts of £2LM).OLM) with each oftwo 5peciali5t charity fund5. At 31 December
2020 the combined value ofthe homings w¥s £549.053.
CHARrrY GOVERNANCE CODE
The TnLSt tskes ils governance reS￿nsibilI￿¢S seriously and aiffts io have L governanc¢ fram¢work thul 15 fil for
puryose, Compliant and effKienL Tn￿ are provkled with infornllllion on their dutie5 Jnd r¢5pon&bilitie5 under
th¢ Charity Govenwice Code and similar pieces of guidance and leBislation.
Page J

THE CHARTERED INSTITUTE FOR SECURITIES & INVEsfMENT
EDUCATIONAL-TRUST
STATEMENT OF TRusfEES' RESPONSIBILITtES
The Trustees are resrKJn5ible for rKeparing the Trus1￿. Annual Rep)rt and the fmancial staiements in 8ccordBnce
'ith applicable law and Uniied Kingdom Gen¢rnllv Acc¢pied A¢¢ounting Pracii¢¢ (Uniied Kingdom Accouniins
Standards).
laii. applicablL 10 cliaritirs in England Il'ales rcq¥Jires the Trnatts to prepare finan¢i81 statcments for each
financial }ear Mhith give a and fair ofthe st*¢ of alTairs of ihe charitv and of Ihe incorning reshurecs
and applieation of resourcts of the Charity for 1kn￿ perify£ In PTeparine these financnl stsiemeni& ihe'Tru51ees are
required to".
• select suitable atcouniing w)licies and then aiq>l¥, them consistentl%':
ob5¢r¥e th¢ meihod5 and principles in the Charities SORP:
make jud8ments tnd C￿l￿￿eS ihat are reasonable and prudeni:
aieivhetherapplicable actouniintr 5thndard5 ha%e been follN&"eiL 5ubjeffl io un} mbierial deparrures di5¢105ed
and expiaincd in the f￿ancIal stsi¢m¢nts:
prcpare the fmaneial siaiemenL% on ihE TraiThgcontern basts unless li is in4)propriaie io pre5urne thar the ch8rit>
111 ¢onTinue in business.
ThE TAt￿e¢S are rE5ponsible for keeping adequ*e accounting rttnrd5 thai are sufficient to show and explain ihe
¢haritN S trpnsactions. disclose il'ith reasonable arcuroc!, ai any iiThe thc financial positi(￿ of the charii). and enable
them io ensure thai the finJnciAI siatements compfy, Ivith tlie Chariiies Act ?01 l. the Cllarilies (Accounts and
Repon5) Re8ulaiions ?008 end tht provisRons of the chariry s con5tiiiiiion. Thei. are also responsible for
safeguarding the asset5 of Ihc chtsril>' 8nd 1￿ce for iak'iThg ffasonable Meps for the prevention and dere¢tion of
frnud Jnd other i￿esul￿rIticS.
Approi'e(I by ihe Tru51ee5 on ?0 July 20?1
and sioned otl their behalf b
rguk fvluxon, Charlered FCS1{Hon)
TrU￿te

THE CHARTERED INSTITUTE FOR SECURITIES & INVE￿MENT
EDUCATIONAL TRUST
Independent examiner's report to the trustees of The Chartered Instltute for Securltles
and Investment EducationAI Trust
I report io the trusths mycuminalion of the accowits of The Chartud Insiinrte forsccuriiies and InveS￿ent
Edtschtional Tntst {the Tn￿¢) for the year ethd 31 December ?0￿. which are sei oui on pages 8 to 15.
This report is made solely to the charity's ￿￿tt$. as a bcdy. accordance with s¢¢tioffj 154 of the Charities Act
2011. My independeni examiner's work has beert utkn so I mighi sta* to the ¢harity'S ¢fus*e5 those
matlers l am required ￿ slate ￿ them in an itmkpendenl ¢xamineT'5 rfFW)rt and for no other pury￿Se. To the fulle
exient pennitted by law, I do not or assume res￿￿1b]Iity lo anyoD¢ oth¢r than th¢ ¢lwity, the ¢hurity'S
members ￿ a body and the clwiry's tn￿leeS as a knly formy iDdCpend￿t examiner's wo& for this re￿[( OT for
the opinions I haye fornied.
Respollslbllltles •4d b•$i5 repw¢
A5 the clwiry In￿tt$ of the Trusi YC￿ are respmsThi le forthe pttpornlion of the *eourtL4 in #ceordartce with the
requirements oEthe Chariiiu Aci 2011 I'the Aci.).
I repon in Tespeci of my examinaiiort of the Trnst's aecounts earried out UD(ler Section 145 of the 2011 Acl and in
carrying out my examination I have followed all the aEryJlicableDircction5 given by the Charity Commission under
section 145(51(b) of the Aci.
Inde￿nd￿l ￿mIner'S Sl*loment
I have completed my examinaiion. I CODfinn tha¢ w wtuial wtter5 have come w my allenlion in CO￿eCtIon
with the examination givin8 me Ca￿ to believe thal in maleTiJI TespecL
accouryting rffords w¢re not kepl in re4)eci of the Tw5t as Tequired by section 130 of the Aci; or
2. ac¢ounts (k) not xrord with those rttoTds; or
3. th¢ ocrounts do nol comply with the applicable requiremeatsconcerning the fomi and conieni of aceounts
s¢1 oul in the Charities (Accounts and Remi ReBulauons 2(108 other than any requirement thai the
accounts give a'true and fairview which is notamatierconsideredaspartof an independ￿leXaminatl0rn.
I no wncerns and have come across Tr) other maNers in cowKctiM WAth the examinoiion to which attention
should be drawn in this repon in order ￿ enable a pfow of the AecounLS to be reached.
Tina Allison FCCA
Chanered Accountsnt
Crowe U.K. LLP
55 Ludga* Hiu
London
EC4M 7JW
10 SÈptember2021
Poge 7

THE CHARTERED INSTITUTE FOR SECURITIES & INVESTMENT
EDUCATIONAL TRUST
STATEMENT OF FINANCIAL A￿1V￿llES
Year ended 31 December 2020
Restricted Finds
Restrlcted F•nds
21120
2019
Note
INCOME
Donatiolls
Investment iocoine
160.(KJ)
6.984
200.0
9.081
TOTAL INCOME
166,984
209.081
EXPENDITURE
Charithble activities
212.156
214.871
TOTAL EXPENDITURE
211156
214.871
et Invesimellt %*irts
39.715
77.664
NET IEXPENDITURE) INCOME
(5.457)
71.873
RECONCILIATION OF FUNDS
TOTAL FUNDS BROUGHT FORWARD
1212J36
1.140.463
TOTAL FUNDS CARRIED FORWARD
1 ?11336
All incom¢ and ap¢Nliwre in 20?0 was thrnigh wes¢n"cted fiMKI5.
The note5 on Pages 1110 15 forni pml of these fllknncial ￿emen15
Page 8

THE CH.4RTERED INSTITLfTE FOR SECURITIES & INVESThIE
.EDUCATIONAL TRUST-
BALANCE SHEET
A5 at 31 December 2020
Notes
?o?o
?019
FIXED A&SETS
Inve51n)ents
549.053
507.354
CURRENT ASSETS
Bank llnd de[￿511 balan¢es
Debtor5
660.??6
712J87
660.?26
71?38?
CREDITORS: awnounts falling due i%ithin onl )'ear
Accrued eipenses
(?.400)
1?.4thJ)
NF.TCURRF.NT ASSET5
657.8?6
7119.98?
TOTAL NET ASSETS
1 ?06.879
l ?1? j36
FUNDS OFTHE CHARITI.
Re5trtcied fund5
1 ?06.879
111)336
1 ?06.879
l 71? 336
These financial 513tem¢nls i%ere appmved And 0uihoiised for issue by the Board ofTN51ces on ?0 Jul>. ?IL? I
Signed on behalf ofthe Board 0fTru￿tes."
rank fvlo¥on. ChaTtered FCSI (14on)
Trnstee
I'he nole5 on PaRes I I to li forni pan of these financial sta*rnents
Pugc• Sl

THE CHARTERED INSTITUTE FOR SECURrrILS & INVESTMENT
EDUCATIONAL TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2020
Total
fimds
Prior year
tunds
Note
Casb llows Irom oper*thig *etAvldes:
Net ¢osh (used irt) i)perniing ¥livilies
(52.156)
(22.9691
Cuh Ilows (rom Investing *¢tivi¢ies
Dividend5 and inkmi and rents from I￿v￿#Thents
6.984
9.081
PuTcha5e of investments. ai c051
6.984
6.906
Net fA5h proiided by iive51inE •ctivilies
2.175
Change tn cash and c&th equivalents in the
reporting period
(52.1561
(?0.794)
Cash and c&sh equivalenL% ￿ the iryintiins of the
rewting period
711382
733.176
C¥sh And t*sb equivthnts •t the ¢Dd •lthe
reporiln¥ period
6f4)326
712.382
Page 10

THE CHARTERED INSTITUTE FOR SECURITIES & INV￿￿mENT
EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENrs
YEAR ENDED 31 DECEMBER 2020
CHARITY INFORMATION
The Charity is unin¢orpora¢ed registered with the Charity Commission number 1139712, which is
ieEis*red in England and is & public lyenefil entity. The athlress ofthe re8i5tered office is ?0 Fenchurch
StreeL Londoo EC3M 3BY.
ACCOUNTING POLICIES
The pri￿1paI accounlin8 wjlicies alq>ted uilicai ar￿ ofiudg¢uMts are a5 follows..
) B*sls of Pr¢p•ratlo
The accounts (frncial swetDenLS) have LKen preparol iti aeeordatte with the Clwritits SORP (FRS1021
applicable to clwiiies pyeparing their xcounts in accordance with FRS102 the Fin8n¢ial Reporting
SwidaTd awlicable in the UK and Republic of Ireland alld the ChaTilie5 A¢¢ 2011 and UK Generally
Accepied Practice as li applies from l January 2015.
The accounts (fmancial statemeDtsI have been pwepared ￿ give a 'lrue and fair. view and have departed
from the Charities (Accounts and Remi ReguiatioThs VKJ8 only to the extent Tequired to provide a 'ts￿e
and fair wew.. This departure itivolved followirtg the StstemeDt of Recommended Practice applicable
to charities preparin8 theiracclM￿ts in accordanc¢ with th¢ FiDan¢ial Reporting Swidard applicable in the
UK and Republic of Irel3[￿ (FRS 102) iswed on 16 July ?014 Tather than the previous S￿lement of
Recommended Practice: Accouniirtg attd Rwing byCbaritie5 whi¢h was efFective from l April 2(K15 bui
which ha5 since been withwn.
ets and liabilitits are initialty rwixd ai his￿[1￿ cost or transxtion value unless otherwise 514t¢d
in the ￿l¢v&ni a¢¢i)unting ￿)I1¢Y no*.
The ChaffeTed In*itu* for Securities & Inve5uneDts EdUatiOn￿ Tn￿ meets the definition t>f 4 publi
be￿fil ¢ntity un(kr FRS 10?
lo continue its aciiyiues for foffseeable furt￿￿. A¢cordiD8ly. thry ¢oDtinu¢ to #dry the going concern
b&8is in preparing the accoun￿ The Tntstees aTC satisfRd that Pr[￿￿5¢& are in plJ¢e lo identify. re￿n and
remedy any wsthined losses. and therE ￿ 5ignifKant re5erve5 available cash thai can be utilised if
required The Tn￿lee5 will eontinue ￿ review this p)sitiott regularly. laking into consideration the
implications ofcovi&l9.
b) Function￿PreSeat1tlolll1 eurnry
The fimciionol ctsffettcy of The Clwttred IAstithte lor Securities & Inve5thients Educational Tn￿1 is
considered ￿ be ID poun(b s¢eTling b¢¢ause thai 15 the currency of the primary economic environment in
which the charity opaatc&
e) VoluntAry IntoTh¢
Donation5. grants and other income aCC￿￿ted forort a tteeivabie btsi
d) Investment IDeome
Investment inconK is Kc(X￿tCd lor on all a¢¢n￿lS basis when the atnixurt caD be tnE&wred reliably by the
chjrity this i5nonnallyupon MKifKaiion of the iD*TeMreceived orrtteivabk from the InvcsthieDtManager
or Bank.
Pu
elj

THE CHARTERED INSTrfuTE FOR SECURITIFS & INVESTMENT
EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ETr4DED 31 DECEMBER 2020
e) Ch*rlt#ble Aetlvltles
Th¢ Jrorua15 basis of ar￿U￿ting is Y5ed for expavJittw& lThecoveAble VAT is includol with the item of
to which it rvlat¢5.
Conthined withsn chaTitable xuvitie5 are all costs which are direcily attrIbU￿]e ￿ the objects of the
harity. Grants awarded and cAher ￿penSeS are Tecognised wI￿n a COfLSWthCtive or legal obligation io the
recipient ha5 been Creaied by the chaTity. Govemantt costs comprise the costs of S￿￿tOry compliJncE.
including legal adviK inde*t examinalioA fees and the costs ofpteparing the stawtory accoun
l) Fund5
Unrestricwl funds are funds which are available for use at the di5creli¢)n ofthe Tnts¢ees in furtlrnce of
the general objectives of the clwi.ty and whKb have Lot becn design*ed forotherpurpjw.
Restricted fimds are subjeci to S￿lf￿ restriciiotis by the (kIno￿ These fun& are accounted for
Separately and aTe only avai]able io be used fcr the specific Pu[￿SeS for which tly werE given.
Investment income and all ex￿din￿e are aJl(Ka*d ￿ the 4)pnyri#te fund.
g) Staff and pension c051s
All those who WO￿ for theT￿￿ haveioinl contractsofenwloymeni with Chartered Insiitute for Securities
& Inveslment. The costs of their empknymeni are charEed to the Trnst by Chartered I￿￿llUte for Securities
& Inve5mient ￿ Tefleci the lime spent on the Tn￿.5 ￿1vilIeS. Chartered Irt￿11￿1e for Securities &
Invesunent cOntyibu￿ fixed percentsge Ta￿ of salary. xcording to Age, io an Employtts, Personal
Pension Scheme and has no further liabiliry for the SclKme. which ts administered on beh￿r0( Cbkrtered
In5tiNte for Securiiie5 & Invesunen('s employtts by an independent manager.
h) Inv¢5tmeNts
Inves¢ments are a form ofb&5ic ruW￿la1 insmuneni and are initially recognised at their traLqaction value
nd $ub5equendy measured at their fair value as ai the balance shert dale using the closing quoied market
price. The slJlemenl of fuwicial adiviiies includes the gains loues arising on revaluation and
disposaL% througlwi the y¢aT.
All 8Ains and lo&se5 are tak¢n ￿ the StatellKnl of Financial Acuyiiies ￿ they arise. tiealised gains and
losses un inve51m¢nts ¥re ￿1￿l￿ted a5 the ditreTence be¢weeA sales woceeds and their opening carrying
value or their pu￿1￿¢ value if wuired subsequeni ￿ the day of the fmancial year. Unrealised gains
and losses are cal¢ulated the difference be￿¢¢￿ the fair 571ue at the year eThJ and their corrying value or
cost if purchased irt the ycar. Reali5ed and unrealued inveslmenl gains and losses are combined in the
Sthtemeni of Financi#l Activities.
The Charityhas fmhincial assets and FuwKial liabiliiies ora kiThJ that qualify as basic fthancial instsumertts.
Basi¢ fin1￿la1 instnlments are inits'ally recognised ai trar￿tion value and subsequenily me&sured ai
amortised wsl. Financial assets held at amonised coa comprise c&sh ai bank and in hand. Financi&l
liabililie5 held al omonised com comprise the xcruals aThJ othercreditors. No discounting been applied
lo these fuwicial inslnmnents on the basis thai the Per￿ over which amounts will be settled tre such thit
any discounting would be imma*riaL
Page 12

THE CHARTERED INsT￿UTE FOR SECURITIFS & INVESTMENT
EDUCATIONAL TRUST
NOTES TO THE FtNANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
S) Crlticjl xcouAtEMgJudgemeN15 key of e5¢imaliom WAeertthty
In the application of the clwiry's xcouniing polici4 are required ￿ make judgements, esiima*s
and assumptions a￿ll1 the carying values of a&sets and liabilities that ore not readily apparent from othtt
50urce5. The estimates and underlyingassiunpuonsare based on hiS￿rical experience andother factors that
are considered io be relevani. Actual results may differ from these estIn￿leS. The estima*s and underlying
assumption5 are reviewed on an oTrsoing basis. Revisions to xcountijig estimates art recognised in the
period in which the esiimate is revised ilthe revision affects only tha1peri￿ or in thepEriod of the revisiots
and periods if the revision affttts the curreni and fithtye pcriLWts.
In the view of theTru5tee4 no a55umplion5 Concerning the futyreor esiimaiion uncenainty affeciing assets
liabilities at the balance 5heetdaieare likely lo Tesult in a adju5tmeni io their carrying amounts
in the next fmarteial year.
3. CHARITABLE ACTIVITI&S
2•211
2019
Sponsored ieochin8
Training
SchDlarships and award8
Staff costs
Partnerships
Publications
Events
othEr￿Sts
Govern￿￿e cosls
36.096
36.981
1.811
49.434
111.606
?6.711
1?9.073
879
10.185
2.564
288
2.(￿1
214,871
656
2.539
212,156
4. GOVERNANCE COSTS
2020
2•19
Independeni examiner's fees
Trusltts. eXPe￿$eS
2J40
1.370
631
2.539
2.001
No Trusl¢e rec¢ived remuneTrtion from the TnM during the year l?019.' none). During the year two (2019: five)
of the Tn￿(teS w¢r¢ for tsavel and subsis*nce expense5 as noted above. Stsff of the Tnjst all have
joini employm¢nt contrxts with Chartered Insliluie lorSecwrilie5 & Inv&suneni. The cos(s of these staff are borne
by Chartered Instiiu¢e for Securi¢ie5 & Inveslmeni and are reclwged io the Tn￿ monthly. Sthff COSLq reFYesent
thrtt employees who Worked direcdy on the acuviiies of the Tn￿ the yur. Includ¢d io 4aff costs are
eorttributions to a defll￿d conln"iwJuon pension scheme.
PtTge IJ

THE CHARTERED INSTrruTE FOR SECURITILS & INVESTMEwr
EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEME
YEAR ENDED 31 DECEMBER 2020
FIXED ASSETS
INVESTMEiYfS
2020
2019
Balance ai mArkei value at stsrt of r9￿ill8 I￿￿(KI
Reinvested income
Unrealised Eain
s￿? J54
417.784
6.906
77.64
39.715
Balance at rnarkei value at end of rEwrkng
549.053
50?.354
The investments above comprise 196,184 units in the Sarasin Alpha CIF for Elldowments and 1,427 unsts in th¢
CCLA COIF investment and 8Te list￿ al market value ai the year en
RESTRicfED FUNDS
BAlaAce •t
01-J*n l•eome
2020
Investment
Blllanee At
31-Dec
2020
ExpendiivTe
SCHOLARSHIP FUNDS
Jonathan fimm5 Memorial
Fund
Siephen Cooke Memorial
Fund
Andrew WinckleT I
Euroclear Prize Fund
Hoare Nairne Scholarship
Fund
Liverpool Leaming
Parthetship
CISI DONATED FUNDS
TOTAL
i.cv))
1.092
502
1.488
1.488
94245
(3584)
90.661
10,(KK)
io.(M)J
(?0.￿1)
188372
{?12,156)
1.105.rx19
1.212,336
156.984
166.984
39.715
39.715
1,113.136
1,206,879
The Stephen Cooke Memorial Scholarsh4) Futhd was e5tabb'5hed during 1997fy8 with the puryN)se of usin8 the
fund5 donated ￿ contribuie ￿ the anrtual fees of stu(knts undEnknng courses relevanl to the financial services
industry.
The Andrew Winckleri'EuTociear Prize Fund WLS &)natcd by Eumclearso that a prize could be given at the CISI
annual awards ceremony to conunemornte the IAie Andrew Winckler.
The Hoare Nairn¢ S¢ho18r5hip Fund was ¢5th1ished by Charles Hoare Nairne with donaiions of £IOO,000 durinB
2013-2018. Th¢ funds are used to wovjde scholarships io B&sisi the successful candidates with Witi(m and exam
entry eosts rehiing to theirCISI Masters in Wealth Mamgemeni sn￿leS
The Jonathan fimms Memorial Furyj w45 donated via the In51ituie of Financial Planning, who had previously
administered the ful￿. atd provides annual prize for thebesi resuli in the CISI'S Diploma in FinanciAi Planning
Page 14

THE CHARTERED INSTITUTE FOR SECURITIFS & INVESTMENT
EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
The Livewl Learning PaTther5hip fiwd is the Second of two inS￿lments of£io.(KM) for the joini funding of a
programme to deliver Securities and Investments exams in schools in Liverp￿1.
The CISI donated fimds are the subieci of & leiter from C151. whi¢b defines the wiys in whi¢h the funds ¢an be
used. The principal objeciives AS d¢fined in th¢ let*r ¢￿ be 05:
To fo¢us on deYelopingtTrnsfaable5kil]s in the xhools and funhereducaiionpafts of the fmancial seryices
serlor, with a viewalgj ￿ reviewing Wofkai undergrthaie and apprenuceship level4 including the training
oftuiof5 and teache￿. PToviding them w5th 5UPPOrt aThl ￿￿ntiallY. spjnsorship.
RECONCILIATION OF NET (EXPENDfTUREyINCOME TO NET CASH FLOW FROM
OPERATING ACTivrriES
20211
21119
Nei {expendiiure) income for the repffi1￿ wiod (0$ per the
Stakment of Financial Aaiviiies)
(5.457)
71.873
Adjustments for.
Nel investsneni gains
Dividends. interesi and rents from itiVCStiDeDts
Decrease in debtors
(Decrease> in credI￿S
(39.715)
177.664>
{9.081)
3.002
(11.1001
(6,984)
Nel cash (used in) oFerating acliviti&s
ANALYSIS OF CASH AND CASH EQUIVALENTS
202•
2019
Cash in hand
Notice deposits (kss than 3 n￿nths>
660,?￿7
712,382
Tothl ¢ash And cash eqUiV￿¢￿ts
660,227
712,38?
RELATED PARTY TRANSACTIONS
Page JS