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