Views on improving the integrity of global capital markets

Asset Manager Code


“Front-Running” in India Challenges Regulators

In an interesting turn of events, the Securities and Exchange Board of India (SEBI) has announced that it needs to review its regulations that deal with front-running.

CFA Institute: Market Fraud, Mis-selling Concerns Cloud Asia-Pacific Outlook

Following the big interest in last year’s CFA Institute Global Financial Market Sentiment Survey (GMSS), the results of the 2013 survey — shaped by input from the nearly 6,800 CFA charterholders worldwide — are sure to raise some eyebrows.

A Lesson in Ethics: Why Good People Sometimes Do Bad Things

A recent publication by Muel Kaptein, partner at KPMG and professor in business ethics at Erasmus University’s Rotterdam School of Management, compiles insights from a wide range of research and experiments to explore why individuals are led astray from their ethical foundations.

Insider Trading: A Global Issue for Capital Markets

Type “insider trading” into your favorite internet search engine and a virtually endless list of articles will appear. Stories cover countries and markets of all sizes. The trading on material nonpublic information is a longer-term phenomenon, to which regulators are steadily increasing their enforcement activities.

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?

CFA Institute Asset Manager Code of Professional Conduct: Right for the Times

In a recent interview with Emerging Manager Monthly, Bob Dannhauser, CFA, head of Standards of Practice and Outreach at CFA Institute, discusses the Asset Manager Code of Professional Conduct.

Amid Recent Scandals, Japanese Hedge Fund Investors Need Trust and Transparency

A recent "Institutional Investor" article suggests that cultural factors may help influence conflicts of interest between asset managers and owners, focusing on recent scandals in Japan. Glenn Doggett, CFA, examines the issue.

To Our Next Generation of Finance Leaders: Another Call for Integrity

Renowned Yale economist and best-selling author Robert J. Shiller recently issued a simple but important call for college graduates headed for careers in finance: “… never lose sight of the purposes and overriding social goals of finance.”

The Value of Hedge Funds: Recent Studies Reach Different Conclusions

Two recent studies offer conflicting views of hedge fund industry performance. Rhodri Preece, CFA, examines the research and offers key takeaways for investors.

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.

Investors Gain As India Tightens Reins on Asset Managers and Financial Advisers

From issues of transparency to the suitability of investment advice, the Indian fund management industry is undertaking several initiatives to enhance investor protection in this nascent market.

AIJ Investment Advisors: Made (off) in Japan

The unfolding scandal in Tokyo involving pension investment management firm AIJ Investment Advisors Co. is depressingly predictable. Details are still emerging, but it appears that some $2.3 billion of client assets are unaccounted for. The pity is that it really doesn’t have to be this way.

CFA Institute Asset Manager Code: Coming to an RFP Near You

One consequence of recent well-publicized frauds targeting even the most sophisticated of investors (think Madoff, Stanford, et al) is a sharper focus on investor due diligence review of asset managers. The old “Three Ps” (people, process, performance) have given way to increasingly expansive investigations of investment capabilities and the character of firms’ principals.

2012 Edelman Trust Barometer: Financial Firms Fall Farther

Following a tumultuous year for global capital markets that saw the longest-ever insider trading sentence and the Olympus Corp. accounting scandal, public trust in the financial services sector has taken another hit, according to the findings of the 2012 Edelman Trust Barometer.

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 ›



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