Views on improving the integrity of global capital markets

Jon Stokes

136 Posts


Jon Stokes is the Director of Ethics and Standards Education at CFA Institute. His responsibilities include design and creation of on-line ethics education, development and maintenance of the CFA Institute Code of Ethics and Standards of Professional Conduct, and the design and management of the CFA Institute Ethical Decision-Making and Giving Voice to Values education programs. Stokes holds a JD degree.

Author's Posts
Ethical Dilemmas for Investment Advisers: Global Webinar Series Offers Framework for Thinking Ethically

Interactive webinar increases understanding of ethical principles applicable to investment professionals and how to make them a key factor in everyday decision making.

Informing the “Favored Few”: The Muddy Waters of “Material Nonpublic Information”

When does strategizing with other investors on your activist plans morph into tipping fellow investors about trading positions that could move stock price once disclosed?

What Has SAC Capital Taught Investment Industry about Risk Management?

How overconfidence and the lack of an effective compliance program and rigorous risk assessment system can lead investment professionals into dangerous waters.

SAC Capital Advisors and Exercising Supervisory Responsibility

The SAC Capital Advisors case emphasizes the importance of exercising supervisory responsibility. Supervising others to prevent violations of securities laws, rules, and regulations is also a prominent part of the CFA Institute Code of Ethics and Standards of Professional Conduct.

“Political Intelligence” Trading — Where Do We Draw the Line?

As investors seek “political intelligence” for a leg up, there’s a fine line between acceptable versus insider information.

And the Survey Says … Trust in Financial Services Still Ranks Low

The results of the 2013 Edelman Trust Barometer are out and the findings, for the financial services industry at least, are not encouraging.

Gauging Trust: Are There Objective Measures to Determine Which Investment Advisers Will Act Ethically?

No one would argue with the premise that trust in those individuals and entities who manage investor assets is a fundamental element in any investor-adviser relationship. But how can investors gauge the integrity of the investment professionals and firms they are considering hiring? Are there objective measures of trust that can assist in determining which advisers are more likely to act ethically in the future?

Ethics and Risk Management: Building a Culture of Integrity

Jon Stokes, CFA, examines the key components of creating a culture of ethics.

What’s in a Name? Conduct Some Call Insider Trading by Any Other Name Stinks as Much

Lehman's selective disclosure may not be insider trading, but it's just as egregious.

From the Belly of the Beast: Goldman Exec’s Parting Words an Indictment of Investment Industry

In an op-ed in the "New York Times," former Goldman exec Greg Smith penned a scathing indictment of what he claimed was an eroding culture of integrity at his old firm. Jon Stokes examines the impact on the investment profession as a whole.

Fatally Flawed: Compliance without Ethics in the Investment Industry

A regulatory compliance program that is not centered on ethics and a strong ethical culture risks not being adequate or effective, according to Carlo V. di Florio, director of the U.S. SEC’s Office of Compliance Inspections and Examinations (OCIE). In a… READ MORE ›

Asset Manager Code Recognized as Best Practice by International Corporate Governance Network

A leading global organization working to promote good corporate governance practices recently recommended that asset holders ask investment firms to comply with requirements of the CFA Institute Asset Manager Code of Professional Conduct. The International Corporate Governance… READ MORE ›

Fighting the Dark Angels

At a recent compliance conference co-sponsored by CFA Institute, Board of Governors Vice Chair Alan Meder, CFA, CFP, challenged attendees to create a culture of integrity at… READ MORE ›

Investor Indifference to Fiduciary Care?

Does it matter to investors whether their financial advisers follow a fiduciary standard? The answer appears to be “No,” according to the J.D. Power 2011 U.S. Full Service Investor Satisfaction Study. READ MORE ›

Ethics Reform: Washington Is Not the Answer

Joanne Lipman’s recent Newsweek column “Are Ethics for Suckers?” strongly implies that Wall Street can’t help but lie, cheat, and steal. The “culture of success” in an arena where “alpha men and women” are “playing for super… READ MORE ›

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