Views on improving the integrity of global capital markets
Let’s Make the Auditor Report More Informative

Similar to market crises and accountancy-related corporate scandals that have occurred in the past, the extent to which auditors act in the interests of investors has yet again been brought into sharp focus in the aftermath of the 2007-2009… READ MORE ›

Japan: Change In A Time Of Crisis

They say that crisis often provides the inspiration for great change. If true, then Japan should be on the verge of a great renaissance as a consequence of enduring more than its share of crises in the past 6… READ MORE ›

CFA Institute Discusses Key Financial Reporting Projects With IASB

CFA Institute along with its advisory committee, the Corporate Disclosure Policy Council (CDPC), recently held its annual meeting with the International Accounting Standards Board (IASB).
The meeting was… READ MORE ›

Looking Beyond Listings

Rumor has it that animosity at the top is behind NYSE Euronext Inc.’s rejection of Nasdaq OMX Group’s enhanced takeover bid, though a potential antitrust review would provide a more understandable pretext for refusal. If and when things ever… READ MORE ›

Ethics Reform: Washington Is Not the Answer

Joanne Lipman’s recent Newsweek column “Are Ethics for Suckers?” strongly implies that Wall Street can’t help but lie, cheat, and steal. The “culture of success” in an arena where “alpha men and women” are “playing for super… READ MORE ›

Weight a Minute!

We were pleased to have the chance to respond to a recent letter in Pensions & Investments suggesting that pension plan sponsors should calculate their plan-level performance using internal rates of… READ MORE ›

A Matter of Opinion?

Newsof Standard & Poor’s negative outlook on the U.S. government’s long-term debt met with the unsurprising response from Washington that the S&P analysis was flawed.

 

As we’ve pointed out before,… READ MORE ›

Derivatives and the Cost of Beer

Readers should check out the lead article in the Wall Street Journal today, “Risk Rule Riles Main Street,” by Victoria McGrane, to get a sense for just how convoluted and acrimonious the debate over derivatives regulation has… READ MORE ›

Regulatory Reform — a Johnson-Bachus Solution to Dodd-Frank

If there ever was an uphill battle, efforts to institute proper financial regulatory reforms are mired in it. There are so many distractions and barriers, not just here in the U.S. but globally, that proper… READ MORE ›

Exchange Merger Mania

The frenzy of merger-related activity in the exchanges business shows no sign of abating. Last week, it was the turn of first BATS Global Markets and then NASDAQ/IntercontinentalExchange (ICE) to enter the fray — BATS with the announcement that… READ MORE ›

All Regulation Is Local

The late former U.S. Speaker of the House Tip O’Neill coined the popular slogan “all politics is local” to emphasize that a politician’s success is tied to the ability to understand and address the issues most important to their… READ MORE ›

A New Global Financial Architecture: Stalled

In the current issue of Foreign Affairs, Ian Bremmer and Nouriel Roubini paint a pessimistic picture of potential global coordination of financial services regulation. As they put it, “… the process of creating a new international financial… READ MORE ›

The GIPS Standards — Truly a Global Standard

I was in Zurich last week at the Global Investment Performance Standards (GIPS®) Executive Committee meetings where I was able to participate in several days of interesting and fruitful discussions. As an active observer, it struck me how the… READ MORE ›

Is the Regulatory Pendulum Broken in the EU?

It was interesting to see the dueling articles in the 21 March edition of the Financial Times, in which DG Internal Market Commissioner Michel Barnier warned of complacency as regulatory reform stalls in… READ MORE ›

Investor Preferences Being Considered for Auditor’s Reporting Model

When the Public Company Accounting Oversight Board (PCAOB) Office of the Chief Auditor (OCA) presented an update on 22 March on outreach to investors and others about changes to the auditor’s reporting model, it cited… READ MORE ›



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