Tony Tan, DBA, CFA, is co-head of the CFA Institute Ethics, Standards, and Professional Conduct division. He is particularly responsible for ethics education offerings and the professional standards of CFA Institute. He is also a member of CFA Society Singapore.
Organizations need to understand what drives behavior and work to instill a true ethical mindset in their leaders and employees.
The Japanese Stewardship Code is currently all the rage in Japan, driven by political motivation as well as regulator and industry support.
During a recent roundtable series in Mumbai, a group of corporate governance experts discussed disclosure and transparency enumerated in the OECD Principles of Corporate Governance.
Recent regulatory developments in India signal a discernible shift toward empowering shareholders to hold management accountable for corporate affairs.
Landmark legal victory not only will help restore investor trust but also give market players strong incentives to play fair and square.
At the 66th CFA Institute Annual Conference held in Singapore in May, Tony Tan, CFA, head of the Standards and Financial Market Integrity division for CFA Institute in the Asia-Pacific region, interviewed Nalaka Godahewa, chairman of the SEC of Sri Lanka, on the development of the country’s capital markets.
In recent times, there has been increased scrutiny of the role of financial advisers. In Singapore, this has taken the form of the Financial Advisory Industry Review recommendations. In Australia, such matters are under the purview of the Future of Financial Advice reforms while in India it falls to the Investment Advisors Regulation.
I was recently in India and had the opportunity to be part of a salon session discussing the future of finance. Throughout the discussion one common theme emerged: the consequences of too much regulation, and too soon — particularly important to an emerging economy like India whose financial markets are still developing.
Max Bazerman and Ann Tenbrunsel wrote in their 2011 book, Blind Spots: Why We Fail to Do What's Right and What to Do about It, that we sometimes act unethically without even being aware of it. Why is that so? They call it “bounded ethicality.” This is explained simply as making decisions that are harmful to others and inconsistent with the beliefs and preferences of the decision makers’ conscious.
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