Views on improving the integrity of global capital markets

Financial Reporting


Capital formation: It’s Still Happening… Somewhere.

Equity listed on public markets is the bedrock that underlies the valuation of many other growth assets, similar to the function sovereign debt plays for corporate bonds. It is also the focus of a huge amount of analysis (much of which is undertaken by CFA Institute members) and regulation.

MiFID II and Systematic Internalisers: If Only Someone Knew This Would Happen

The Systematic Internaliser (SI) regime could essentially recreate broker-crossing networks, which MiFID II was intended to prevent.

Inline XBRL

On 28 June 2018, the US Securities & Exchange Commission voted to adopt amendments to its rules and forms to require the use of the Inline eXtensible Business Reporting Language (XBRL) format for the submission of financial statement information of operating companies and mutual funds

Structured Data: Benefits to Small Companies

CFA Institute believes the debate over US House of Representatives Bill HR 5054, Small Company Disclosure Simplification Act of 2018, should not focus on the cost increase of an outsourced, or “bolt-on,” service for producing XBRL-formatted reports.

Initial Coin Offerings: The Future of the Future of Finance

The question of whether the blockchain will end up as nothing or everything continues to be asked with no definitive answer as of yet.

Two Wrongs Don’t Make a Right

On 23 February, the Hong Kong Stock Exchange (HKEx) launched the second—and likely final—round of consultation before dual-class share (DCS) structures are expected to be introduced to the Hong Kong market later this year.

ESG Q&A: Principles for Climate-Conscious Investment

Climate change is an issue that will have an immense impact on our lives and the financial world in the coming years. Engagement between issuers and investors on the issue is increasing as investors begin to plan for investing in a world with a lower carbon footprint.

The Blue Sky Allure of Weighted Voting Rights?

After some hiccups earlier this decade, talks of permitting the listing of companies with dual-class share (DCS) structures have gained traction in Hong Kong and Singapore, two major financial centers in Asia .

Investors Require Improvements in Reporting of Alternative Performance Measures

CFA Institute recently conducted a member survey to ascertain the best way forward on the contentious topic of alternative performance measures.

Time to Focus on the Forgotten Middle across Financial vs. Non-Financial Information Spectrum

The nature of company information reported outside the primary financial statements can be thought of as falling along a financial to nonfinancial information continuum.

Concerns About International Audit Standard-Setting and Audit Quality

The purpose of the Monitoring Group is to advance the public interest in international audit standard setting and quality.

Corporate Reporting: Enabling a Long-Term Orientation in Investment Analysis

Several publications have exhorted regulatory authorities to craft policy interventions that incentivize a long-term analytical orientation of companies’ disclosures.

The End of Accounting? Not So Sure

If the information within primary financial statements has had a sustained and troubling decline in its relevance, what's the way forward?

How Structured Data Helps Issuers and Investors

How to mitigate the costs of using structured data (XBRL) in financial reporting and leverage the benefits, a webinar.

Requiring the Use of the Legal Entity Identifier

CFA Institute believes all companies should be required to maintain and report the Legal Entity Identifier of a registrant and its major subsidiaries.



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