Top 10 “Market Integrity Insights” Posts from 2012: Dark Trading, Systemic Risk Council, LIBOR Scandal, and More

Categories: Corporate Governance, Derivatives, Executive Compensation, FASB, Financial Reporting, IASB, Market Structure, Standards, Ethics & Regulations (SER), Systemic Risk, Systemic Risk Council, US SEC
Best of 2012

A list of the top 10 most-read blog posts from Market Integrity Insights in 2012:

1.       Dark Trading: Is It Hurting Market Quality?

Over the past decade, the trend toward larger volumes of equity-market transactions taking place away from public exchanges has led to concerns about investor access and competition with the traditional exchanges. In response, CFA Institute has published Dark Pools, Internalization, and Equity Market Quality.

2.       Coming Soon to an Income Statement Near You: Comprehensive Income

Did Bank of America have a profit or loss in 2011? Finding the answer requires digging into the company’s financial reports. While the net income stares you down on the face of the income statement, the loss hides behind a curtain known as “comprehensive income.” But that is about to change.

3.       CFA Institute Co-Sponsors Systemic Risk Council Led by Former Bank Regulator Sheila Bair

CFA Institute and the Pew Charitable Trusts joined forces with former FDIC Chair Sheila Bair to launch the Systemic Risk Council (SRC). The SRC brings together experts in investments, financial markets regulation, policy making, and academia to offer seasoned opinions on the structuring of proper systemic risk oversight.

4.       Visionary Board Leadership More Important Than Ever in Wake of Corporate Governance Scandals

Amid series of recent high-profile corporate scandals, CFA Institute has released a “checklist” for visionary boards.

5.       So You Want to Invest in Facebook, Do You? Good Luck with That

In the run-up to Facebook’s IPO, Matt Orsagh, CFA, examined some of the shareowner rights challenges Facebook investors would face.

6.       LIBOR: A Tale of Two Scandals

Along the range of scandalous behaviors by the banking industry, is a recent episode — the LIBOR-rate-fixing scandal — one of the most vulgar examples of banks behaving badly, or merely trifling? Kurt Schacht, CFA, examines the issue.

 7.       JPMorgan’s Derivatives Blow-up May Benefit Taxpayers

JPMorgan’s US$2 billion derivatives trading loss underscores the need for a properly implemented Volcker Rule.

 8.       HAZMAT ALERT! Beware of JOBS Act Offerings

If you thought the Facebook IPO was an experience to forget, consider this warning: If you see a new stock offering coming from the U.S. JOBS Act, consider it carefully.

9.       LIBOR Scandal: European Commission Steps in to Fight Future Rate-Fixing

Part of the outrage over the LIBOR scandal stems from the meager actions taken by regulators in punishing the manipulators of these interest rates, along with the feeling among investors that the regulators were indifferent, even complicit. This begs the question, why has so little been done by regulators to date?

 10.   New Systemic Risk Council Challenges U.S. Regulators to Step Up Monitoring Efforts

The Systemic Risk Council (SRC) has thrown down the gauntlet, calling on U.S. regulators to step up addressing the forces that caused the market collapse four years ago and continue to threaten the world financial marketplace.

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