In this interview, Glenn Doggett, CFA, director of standards of practice at CFA Institute and Jim Allen, CFA, head of capital markets policy at CFA Institute, discuss the current state of play and changes that should lead to increased acceptance of XBRL by users of financial information.
Glenn Doggett, CFA, is a director of professional standards at CFA Institute. His responsibilities include providing member guidance in applying the ethical and professional conduct standards of CFA Institute. In addition, Doggett is a specialist in XBRL.
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Lack of guidance from the European Securities and Markets Authority on which dealers will serve as systematic internalizers and at what level under Europe's revised Markets in Financial Instruments Directive makes it difficult for clients to know which dealers are SIs and who is responsible for reporting trades, experts say. Furthermore, dealers' ability to declare themselves at different levels of SI for different products makes data reported excessively complicated. Risk (subscription required) (19 Sep.)
Toshiba's board has voted to recommend that an investment group headed by Bain Capital be the preferred buyer for its computer-chip operations. The group's bid is $17.9 billion. Nikkei Asian Review (Japan) (tiered subscription model) (20 Sep.)
For the first time since the global financial crisis, France will have a budget deficit that comes in below the EU deficit ceiling of 3% of GDP, the finance ministry said. The deficit for 2017 will be 2.9% of France's GDP, the ministry said. Market News International (19 Sep.)
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