Views on improving the integrity of global capital markets

Advocacy


XBRL US Investor Forum on How Standards Disrupt the Status Quo

An upcoming event takes a deep dive into how data standardization is modernizing the capital markets and delivering on the fintech promise.

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

Alphabet Soup: What Does Artificial Intelligence Really Mean?

A navigation on the jargon of AI plus throwing some cold water on the AI hype machine. Machine learning is a useful and powerful tool, but it is no more than that.

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.

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.

Why Funding SMEs Within the EU Capital Markets Union Action Plan Is Challenging

Is shadow banking a way to get SMEs the funding they need? The EU’s policy environment, the conundrum European banks are caught in — these are issues Josina Kamerling discusses in a recent interview.

Genesis of DOL’s Fiduciary Rule and Why the Political Battle Wages On

Will lawsuits delay implementation of DOL’s fiduciary rule to address conflicts of interest in retirement advice? Why is rule still so politically charged? What hard choices face investors, lawmakers?

SEC’s Investor Advisory Committee Urges Full Transparency on Bond Trades

IAC’s Kurt Schacht: “For too long, the fixed-income market has had a veil … around fees, bid-offer spreads, and [broker/dealer] mark-ups. Retail investors in particular are looking for some sunshine.”

SEC Seeks Public Input on Improving Effectiveness of Investor Disclosures

Can the business and financial disclosure requirements of Regulation S-K be improved? Investors have an opportunity to help shape the new rules.

SEC Investor Group: Mutual Funds and ETFs Should Provide Better Cost Disclosures

The group is worried about investment fund costs, said CFA Institute managing director Kurt Schacht, CFA. Our study shows even a 1% annual fee can consume over 30% of investors’ returns over 40 years.



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