Practical analysis for investment professionals

ethics


How to End Insider Trading: More Guidance and Fuller Disclosure

The easiest, least expensive, and most effective way to reduce information trafficking would be for public companies to be more open and honest with investors and shareholders.

Mike Mayo, CFA: Lessons for Financial Analysts from the Exile on Wall Street

Analysts must assert three essential rights, says the veteran banking analyst: the right to ask for information, the right to get information, and the right to act on information.

CFA Institute Integrity List: 50 Ways to Restore Trust in the Investment Industry

The CFA Institute Integrity List is a collection of 50 tangible steps that investment professionals can take to restore trust in the industry. The list was inspired by “real-world” ideas from CFA… READ MORE ›

Islamic Finance: Bringing Ethics to the Center of Finance

Tarek El Diwany believes the core value proposition of Islamic Finance is to bring ethics to the center of finance and when this is achieved, everyone stands to gain.

Book Review: Winning Investors Over

The job of management is to maximize corporate value, which leads CEOs to seek ways to boost their companies’ stock prices. Although generating consistent long-term earnings growth for shareholders would seem the obvious path to reaching that goal, every company will experience difficult times. The question is whether shareholders will regard a down quarter or year as simply a short detour on the overall journey or consider short-run earnings misses significant.

Ethics Roundup: Widespread Insider-Trading Crackdown on the Horizon

“Even the most rational approach to ethics is defenseless if there isn’t the will to do what is right,” Alexander Solzhenitsyn said. This quote came to mind after reading about widening investigations into insider trading in the U.S. and U.K. governments.

Codes of Ethics: If You Adopt One, Will They Behave?

Many institutions involved in the financial skullduggery that caused the 2008 crisis had adopted codes of ethics long before the housing bubble burst. Even Enron had espoused lofty ideals in it's official code. So why aren’t codes effective in deterring unethical behavior?

The Hildebrand Case: Ethics and the Power of Perception

The recent scandal that led Swiss National Bank chairman Philipp Hildebrand to resign highlights the difference between what is legal and what is ethical. The law tells us what we “can and cannot do,” whereas ethics tells us what we “should and should not do.”

The Consequences of Insider Trading: A Cautionary Tale

Who says that one bad apple doesn’t spoil the whole bunch? Just ask FrontPoint Partners who saw its assets under management decline with breathtaking speed—dropping by $6 billion in eight months—after one of the firm’s portfolio managers was caught… READ MORE ›

Take 15: Ethics in Investment Management

Industry expert Marianne M. Jennings discusses the ethical issues present in the financial crisis including the seven signs of ethical collapse, cross-cultural differences in ethics, and what universities can do to promote ethical behavior.



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