Michael McMillan, CFA, is director of ethics education at CFA Institute, where he is responsible for creating, sourcing, and developing educational content for CFA Institute members and investment professionals in the area of ethics and professional standards. Previously, he was a professor of accounting and finance at Johns Hopkins University’s Carey School of Business and George Washington University’s School of Business. Prior to his career in academia, McMillan was a securities analyst and portfolio manager at Bailard, Biehl, and Kaiser and at Merus Capital Management. He is a certified public accountant (CPA) and a chartered investment counselor (CIC). McMillan holds a BA from the University of Pennsylvania, an MBA from Stanford University, and a PhD in accounting and finance from George Washington University. Topical Expertise:Financial Statement Analysis · Standards, Ethics, and Regulations (SER)
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KraneShares has brought to NYSE Arca an exchange-traded fund that invests in securities from nearly two dozen emerging markets, excluding China. The KraneShares MSCI Emerging Markets ex China Index ETF selects investments from the cap-weighted MSCI Emerging Markets ex China Index. ETF (16 Apr.)
US lawmakers and regulators are closer to creating legal groundwork for a blockchain-based system to track and instantly verify digital securities that could represent a variety of financial instruments. Supporters and lawmakers seek to provide regulatory certainty in the sector after initial coin offerings experienced a boom-and-bust cycle. The Wall Street Journal (tiered subscription model) (17 Apr.)
The UK Financial Conduct Authority says one area of focus of its 2019-20 business plan is access to and use of data, including whether barriers to access benefit large or incumbent firms. The FCA also continues to prioritize the Libor transition, Europe's revised Markets in Financial Instruments Directive, the EU Market Abuse Regulation and cyberrisk. Futures & Options World (subscription required) (17 Apr.)
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