Views on improving the integrity of global capital markets
The SEC’s Proposal on Private Markets: Don’t Tip the Balance Further

The SEC is proposing major changes to the rules governing private markets to help young companies raise capital and to expand retail investor access to private markets. CFA Institute argues that the proposal would weaken investor protections and tip the balance yet further against public markets.

A Curious Thing Happened on the Way to Implementing Regulation Best Interest

The fact that firms are transitioning toward a registered investment advisory business model due to Reg BI cannot help but boost the standard for investment advice. Whether or not the advice of this cadre of newly minted investment advisers will be conflicted, as registered advisers they will be bound by a common law fiduciary duty that will lower the thresholds for investor claims on bad guidance. A positive step for investors.

In Financial Services, We Don’t Trust

Congress, regulators, and enforcement officials at all levels must help ensure public confidence and trust in the financial industry. In short, prompt enforcement based on effective regulations that penalize and deter wrongdoing is critical.

Déjà vu all over again: DOL issues guidance on ESG integration in the investment process

In a nutshell, the new rule says fiduciaries cannot sacrifice returns to achieve some other objective, such as societal considerations or other nonfinancial concerns.

ESG Disclosure Standards: Begin With Financially Value Relevant, Layer Other Objectives

Last week, US Securities and Exchange Commission (SEC) Chair Jay Clayton spoke on a webcast sponsored by FCLTGlobal. He discussed his views on environmental, social, and governance (ESG) disclosures and the SEC’s responsibilities to investors —… READ MORE ›

Are You Under 35 and Have an Opinion on Ethics in Finance?

Call for those 35-years-old and under to apply for The Ethics & Trust in Finance for a Sustainable Future Prize worth US$20,000. Open to all global entrants.

Is the Coronavirus Rocking the Foundations of Capital Markets?

An exclusive CFA Institute global survey on the impact of Covid-19 on the financial markets examines the liquidity, volatility, and asset mispricing issues along with thoughts on appropriate regulatory response and the intervention of government and central banks.

Will Revisiting SEC’s Names Rule Clear Up ESG Fund Name Confusion?

Firms use fund names to both market themselves and to inform investors. Fund names are always important, but in the case of the current challenges with funds that advertise themselves as ESG or sustainable funds, disclosures beyond the fund name would be especially helpful.

Audit Quality Indicators: An Integral Part of Transparency

CFA Institute recently responded to
the Public Company Accounting Oversight Board’s (PCAOB) Concept Release, Potential Approach to Revisions to
PCAOB Quality Control (QC) Standards.

Regarding communication, the
Concept Release says, 

READ MORE ›

CFA Institute EMEA Membership Survey: Effects of MiFID II and PRIIPs on product governance in the EU asset management industry

CFA Institute surveyed European members on product governance practices over time and the specific effects major regulatory developments like MiFID II and PRIIPs have had in this respect.

Berkshire’s Bottom Line More Relevant Than Ever Before, The Rest of The Story

Buffett's sale of airline stocks validates FASB’S new accounting for equity securities.

Meet the Micronesia GIPS® Standards Sponsor

Eddie Chan, CFA, CIPM, Director, Professional Conduct Enforcement, and Global Industry Standards, APAC, recently interviewed Daniel A. Roland, CIMA, AIFA, MBA, executive director of the Asia Pacific Association for Fiduciary Studies (APAFS). The association is our Global… READ MORE ›

Defining green activities – What the new EU rules mean for India

A standard taxonomy of green finance based on best principles, with an eventual path towards global convergence, would catalyse investments that are desperately needed. This global issue is framed from the point of view of India.

The Proxy Adviser Saga Continues: CFA Institute Weighs In on the Latest Contemplated Changes to the SEC Proposal

CFA Institute believes that investors must maintain full control of their proxy voting decisions, including the ability to cast their votes any time they wish. Here's a roundup of CFA Institute positions regarding the SEC's proposal on Amendments to Exemptions from the Proxy Rules for Proxy Voting Advice.

Striking the Right Balance: Revising the Accredited Investor Definition

The SEC has proposed to amend the accredited investor definition, which could open the door for eventual recognition of the CFA® charter as a qualifying designation allowing them to participate in private markets.



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