Krista Harvey, CFA, CIPM, is a director on the Global Industry Standards team at CFA Institute. Previously, she held senior roles on Investment Operations and Performance teams at TIAA, Jennison Associates, and Goldman Sachs. Prior to joining CFA Institute, Harvey was a longtime volunteer. She chaired the United States Investment Performance Committee (USIPC) and was a member of the GIPS Standards Interpretations Subcommittee. Harvey also co-founded and co-chaired the CFA Society of New York Performance & Risk committee. She received a BA in economics from New York University.
CFA Institute voluntary standards provide guidance for firms looking to establish policies for how errors in investment performance should be handled.
We hope to see more regulators look to the GIPS standards as a set of best practices they can rely on, which will continue to help CFA Institute meet our goal of protecting investors.
What happened at PSERS? And would compliance with standards for calculating and presenting performance have been valuable in this situation?
We asked firms if they comply with the 2010 edition, the 2020 edition, or neither. The majority of firms (74%) still claim compliance with the 2010 new edition. Only 9% have adopted the 2020 edition.
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