Markets assume a context entirely out of view of their participants, which can have deleterious effects for both suppliers and demanders, Jason Voss, CFA, observes in the latest installment of his Where Markets Fail series.
Has an employer's business practices ever created ethical concerns for you? Has it affected your career? CFA Institute Financial NewsBrief readers weighed in, and Julia VanDeren analyzes the surprising results.
The “invisible hand” of the free market can hurt as well as help participants. The authors, who are Nobel Prize–winning economists, argue that as long as there is profit to be made, sellers will exploit our psychological and behavioral weaknesses through manipulation and deception.
It's conceivable slavery made it into your clothing or perhaps even the circuits that you are using to read this. It shouldn't be that way. The case against slavery is about more than just morality. It’s about money and a material risk to a broad cross section of widely owned businesses that is underappreciated, potentially disastrous, and (in time) easily mitigated.
Investment professionals across the globe need to take the long view and bend the arc of the future away from being self-focused and toward caring about others. And in so doing, we can create a force for good, says Daniel Goleman.
CFA Institute president and CEO Paul Smith, CFA, issued a rousing call for a more ethical and effective investment profession. He also laid out his vision of where he hopes to lead CFA Institute in the years ahead, offering a road map for how he intends to get there.
Science demonstrates that meditation reduces stress, improves creativity, counteracts behavioral biases, and improves ethical decision making. It can be an incredibly useful tool for investment professionals.
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The US House Financial Services Committee has advanced a bill to make the Federal Reserve the primary regulator of the Volcker rule. The measure would replace the five entities currently regulating the Volcker rule and lower the capital requirements banks need to meet leverage restrictions. Reuters (21 Mar.)
The Federal Reserve on Wednesday raised its key interest rate to a range between 1.5% and 1.75%, an increase of a quarter of a percentage point, in its first meeting under Chairman Jerome Powell. The rate-setting committee responded to a stronger economic outlook by signaling a brisker rate of increases in 2019 and 2020 than it has suggested in the past. Bloomberg (free registration) (21 Mar.)
The proposed Pan-European Personal Pensions should be approved by national authorities rather than the European Insurance and Occupational Pensions Authority, said Brian Hayes, an Irish member of the European People's Party. The pensions still would be governed by criteria that are consistent throughout the EU, he noted. MLex (subscription required) (21 Mar.)
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