Rarely do we hear unvarnished talk from Washington’s insular political scene, much less from those responsible for regulating the financial industry. Indeed, demure dialogue is more often the rule as regulators navigate a web of stakeholders and interests, all while … Read more
Leave a CommentMay 2011
While the Dodd-Frank industry overhaul seemed on track to reshape financial rules by this summer, those efforts have largely stalled. Yet another shot across the bow this week bodes poorly for progress on key issues. We’ve known for some time … Read more
Leave a CommentHBO recently broadcast “Too Big to Fail,” the film adaptation of New York Times writer Andrew Ross Sorkin’s book of the same name. It’s a gripping recount of the 2008 meltdown — from the collapse of Bear Stearns and the … Read more
Leave a CommentCFA Institute sponsored a symposium in March produced by the Harvard Law School Program on International Financial Systems which convened senior bankers, investors, regulators, and academics to discuss regulation of derivatives, cross-border resolution of bank failures, regulation of non-bank financial institutions, … Read more
Leave a CommentTraveling back to the U.S. from the recent CFA Institute Annual Conference in Edinburgh, Scotland, I had time to reflect on a portion of the program dedicated to ethical issues in financial reporting, part of our Challenging Industry Norms series debating … Read more
Leave a CommentInvestment professionals spend years building their reputations with their clients and peers. Their hard work and diligence in conducting investment analysis may include periodic discussions with experts arranged through the myriad of placement networks. But with the recent insider-trading convictions … Read more
Leave a CommentI’m a bad gambler. Soon after a mandatory vote on “say on pay” became the law of the land last year, I made a friendly wager with a colleague in the corporate governance world about how many U.S. companies would … Read more
3 Comments
The financial crisis and collapsing asset values have led to a substantial loss of trust by investors in both their investment managers and massive regulatory reform efforts. Whether the magnitude of these responses is warranted has been the subject of … Read more
Leave a CommentFor those of us who were around back in 1987 (the year I received my CFA charter, I might add, boastfully), the circumstances of the “flash crash” of 6 May 2010 were in some ways a modern equivalent to the … Read more
Leave a CommentAfter a decade of wrangling and lobbying, Russia’s new law on insider trading and market manipulation finally came into force last January. Such a law was overdue and a necessary step in fulfilling Russia’s stated ambition to make Moscow an … Read more
Leave a Comment